They sharp they realise that they give the position to a "strongminded" female..scores points with the female voters and at the end of the day,they still call the shots..she just a "good move" in political terms..The Zuma regime wont appoint any1 they cant control..Look at Pikole,he refused to be a puppet..where did that leave him?? he turned down 10 bars...hmmm
1.3% at the mo the dow went up yesterday 125 odd pts and we pulled back when the intersest rate drop was announced and the dow was fairly positive i think 50 pts there was actually no response from the jse and i dont believe it was priced in or was it?...all i am trying to say is that there does not appear to be that much interest and low volumes confirming that.
The point is that this is a good move - the MPC has been behind the curve for quite a while and is merely playing catch-up. The domestic economy desperately needs further stimulus and the MPC most probably had insight into 2Q GDP figures. The fiscus is under pressure and requires higher growth while the R/$ exchange rate is too strong owing to the carry trade. A sensible move under the circumstances, besides CPI is coming into range soon and credit expansion has declined into single-digits!