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Rate cut next week?
The 'cut off' for a potential inter-meeting MPC rate cut will probably come with next Thursday's manufacturing production release, said Atlantic Asset Management in a research note on Friday. "If Asia is a benchmark for this specific data point we should remain well-prepared for the risk of at least a 100 basis point rate reduction ahead of the official 16 April announcement," they said. However, the analysts note that the risk for an emergency central bank MPC meeting took a knock this week as the rand sold off from best levels just below 10.00 on the back of global risk aversion. I-Net Bridge
9 March 2009
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