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MPC meeting

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SimonPB
Valued Contributor
Johannesburg - South Africa's central bank will hold its first monetary policy committee meeting of 2009 on February 4 and 5, moving it to a week before the release of the national Budget, it said on Wednesday.

"The change was necessitated by the fact that the Budget speech by the Minister of Finance will be presented in Parliament on February 11," the Reserve Bank said in a statement posted on its website.

The meeting, at which it will decide the next move on interest rates, had been scheduled for February 11-12.
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6 REPLIES 6
platsak
Super Contributor
Article in beeld this morning suggesting a much more rapid drop in interest rate aproach. As Banks are near their year lows again it could be that we see some sort of rally in that sector soon. The talking heads are bashing banks very hard at the moment. Apparantly ABSA is the best bet. Standard has more international exposure than he other banks.
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SimonPB
Valued Contributor
yip, all the hype is starting about how much they'll drop by with lots of talk about 1% or even 2%. But at the end of the day, it'll be 0.5%.
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barry_1
Super Contributor
i would like a hundred and fifty point decline,probably will get only fifty....with the first lowering of rates,the doomsayers on this site,said the rand would decline to around sixteen to the dollar or worse....what happened is that it actually went stronger ....really one has a minimal effect on the other,except the relief,felt allowed our industries etc to do better....I think Moodys says that there is a real threat of deflation for us and inflation is unlikely to be ignited for a couple of years.
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platsak
Super Contributor
Simon. You are problably right. Market is definately not pricing in a 1% drop. How about getting the guys to do a update technical analysis on he banking sector. In my opinion we are getting near interesting levels again.
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Not applicable
To the economists out there, does a lowering of the rates theoretically spell a strengthening of the rand?
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Shaun_Siddall
Super Contributor
Other way round - rand should depreciate. But in current economic crisis nobody knows. LOL - it was like going long on Tuesday predicting an Obama rally.....
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