{"id":1196,"date":"2009-02-07T07:14:40","date_gmt":"2009-02-07T05:14:40","guid":{"rendered":"http:\/\/www.whalecottage.com\/blog\/?p=1196"},"modified":"2009-02-07T07:14:40","modified_gmt":"2009-02-07T05:14:40","slug":"interest-rate-cut-welcomed","status":"publish","type":"post","link":"https:\/\/www.chrisvonulmenstein.com\/blog\/tourism-news\/interest-rate-cut-welcomed\/","title":{"rendered":"Interest rate cut welcomed"},"content":{"rendered":"<p><a href=\"https:\/\/i0.wp.com\/www.whalecottage.com\/blog\/wp-content\/uploads\/2009\/02\/tito.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-thumbnail wp-image-1201\" title=\"tito\" src=\"https:\/\/i0.wp.com\/www.whalecottage.com\/blog\/wp-content\/uploads\/2009\/02\/tito-150x150.jpg?resize=150%2C150\" alt=\"\" width=\"150\" height=\"150\" data-recalc-dims=\"1\" \/><\/a>The 1 % cut in the interest rate, down to 14 %, is widely welcomed, and should be excellent news for the tourism industry.\u00a0\u00a0\u00a0<\/p>\n<p>The announcement by Reserve Bank Governor Tito Mboweni yesterday was accompanied by a warning to local politicians about the global credit crunch, and the effect that it could have on South Africa.\u00a0\u00a0 &#8220;We are going to go through a rough patch over the next three or four years&#8221;, he said, reports <strong>Business<\/strong> <strong>Report<\/strong>.\u00a0 He did not foresee a recession for South Africa, but described the recent World Economic Forum as &#8220;a memorial service for the world economy&#8221;!<\/p>\n<p>Mboweni wanted to cut the rate by 2 percentage points, he said, but stated that his committee had urged him to take a more cautious approach to the interest rate cut.\u00a0 A further 1 % cut in April appears likely.<\/p>\n<p>The interest rate cut good news should offset the disappointing increase by 61 cents per litre in the price of petrol earlier this week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 1 % cut in the interest rate, down to 14 %, is widely welcomed, and should be excellent news for the tourism industry.\u00a0\u00a0\u00a0 The announcement by Reserve Bank Governor Tito Mboweni yesterday was accompanied by a warning to local politicians about the global credit crunch, and the effect that it could have on South [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[22],"tags":[708,6,29,840,5],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"The 1 % cut in the interest rate, down to 14 %, is widely welcomed, and should be excellent news for the tourism industry. 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