Economists See Three More South Africa Rate Cuts, Split on When

The South African Reserve Bank will likely cut interest rates three more times before ending its current easing cycle, according to a survey.

Most of the 14 economists canvassed by Bloomberg, including those at Morgan Stanley, UBS Group AG and BNP Paribas SA, see scope for the central bank to lower borrowing costs three more times by 25 basis points each, to 6%. That would bring to an end its rate-cutting cycle that began in September 2024 and has so far delivered cumulative reductions of 1.5 percentage points, they forecast.