JOHANNESBURG, April 14 (Reuters) - South Africa’s central bank cut its main lending rate by a further 100 basis points on Tuesday, bringing the rate to 4.25%, after moving forward its monetary policy committee (MPC) meeting scheduled for May.
In a statement the South African Reserve Bank did not give a reason for moving forward the MPC meeting. The unexpected rate cut comes after the bank slashed rates by 100 bps in March in response to the economic impact of the novel coronavirus. (Reporting by Mfuneko Toyana; editing by Olivia Kumwenda-Mtambo)
