SAMANTHA ENSLIN-PAYNE: Don't crack the champagne yet on not-so-spectacular rate cut

21 July 2019 - 00:08 By

The long-awaited interest rate cut finally materialised this week - a not-so-spectacular 25-basis-point drop, so don't crack the champagne. It may, at most, put a couple of hundred rands into the pockets of consumers who are paying off debts. But it barely moved the needle for retail stocks. Investors know the likes of Woolworths, Massmart, Shoprite and Pick n Pay need a lot more spending power than that to lift sales. Data released earlier this week shows retail sales rose by a meagre 2.2% in May, higher than expectations but lower than the previous month...

There’s never been a more important time to support independent media.

From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.

For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.

Already subscribed? Sign in below.



Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.