The tourism industry celebrated good news on two fronts yesterday  –  a 1 % percentage point drop in the interest rate, and the announcement that the 2009 Indian Premier League cricket matches will be hosted in South Africa from 18 April – 24 May.

The Governor of the Reserve Bank Tito Mboweni announced the drop in the interest rate, bringing the interest rate down to 13 %, its lowest level since June 2007.   The Reserve Bank’s Monetary Policy Committee will be meeting monthly from now onwards, paving the way for regular rate cuts in future.

England lost to South Africa in hosting the Indian Premier League tournament, which had to be shifted away from India due to safety concerns.   The Indian government felt that it could not guarantee the safety of the players due to elections being held in India during April and May, given the attacks on the Sri Lankan cricket team in Mumbai in November.   South Africa was chosen mainly due to concerns over the weather in England in April, and the county cricket season being underway in the UK at the same time, reports Sky News.

Twelve South African cricketers, including Graeme Smith, Morne Morkel, Tyrone Henderson, JP Duminy, Ryan McLaren, Herschelle Gibbs and AB de Villiers, have been contracted to Indian teams for the 2009 Indian Premier League season, reports www.southafrica.info.

Later this year, South Africa will host the 2009 cricket Champions Trophy, from 24 September – 5 October, at the Wanderers and Centurion stadia in Johannesburg and Pretoria, respectively.   South Africa, Australia, New Zealand, Pakistan, Sri Lanka and the United Arab Emirates will compete for the trophy.