Polled economists believe we may see another rate cut this year

A recent Reuters poll of 27 economists has revealed a strong belief that the South African Reserve Bank (SARB) could cut interest rates again this year.

While 11 of the economists polled forecast an interest rate cut of varying amounts, some suggesting this would come in September, others believing November was more likely, five said the SARB would keep rates as they are currently. The dominant feeling seems to be that the SARB will hold rates next month, cutting another 25 basis points in November.

The polled economists said that, while there is still room for another rate cut it would be "quite easy to justify" three cuts in a row - July, September and November.

Pictured: SARB governor, Lesetja Kganyago