Currency Note Worldwide

South Africa interest rate remains stable to support their deficit

By Ricky Bean September 24th, 2015

South Africa’s Central Bank benchmark interest rate remained unchanged yesterday, allowing room to support the deficit created by falling metal prices and rolling blackouts. Investors have all but given up on there being a second interest rate increase in 2015; this is due to the economy contracting for the first time in nearly a year and is coupled with falling fuel costs, which have actually helped offset the problems caused by a 16% slide against the dollar.

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