The 50 basis point cut was in line with the median forecast among 20 economists polled by Bloomberg
21 May 2020 – 15:40
The rand firmed to its best level in just over two months after the SA Reserve Bank cut the repo rate by 50 basis points on Thursday.
Shortly after the announcement, the rand had firmed 1.83% to R17.5734/$, 1.86% to R19.2951/€ and 1.87% to R21.4936/£. Immediately prior to the announcement, the rand had been 0.5% firmer to the dollar.