RESERVE BANK SET TO CUT RATES

The SA Reserve Bank's monetary policy committee started a two-day meeting yesterday on interest rates, four weeks ahead of schedule.

The SA Reserve Bank's monetary policy committee started a two-day meeting yesterday on interest rates, four weeks ahead of schedule.

Economists expect the bank to lower the repo rate by 100 basis points to combat a slowdown in the economy.

The gross domestic product for the fourth quarter of 2008 contracted by 1,8percent quarter-on-quarter, the first time that the economy slipped into the red in a decade. - Sapa

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