Nedbank pencils in two interest rate cuts this year

Nedbank expects the Reserve Bank to cut interest rates by at least 50 basis points (bps) in the final four months of this year, bringing much-needed relief to embattled consumers, many of whom are mired in debt.

In an assessment of its performance in the first four months of this year, the lender said the business environment remained challenging despite a marked decline in load-shedding and an improvement in logistics issues at the country’s ports…

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