Reduction in interest rates can have a significant positive impact
The widely anticipated decision by the Monetary Policy Committee (MPC) to resume its interest rate-easing cycle by reducing rates by another 25 basis points (bps) is the right one.
Prof Raymond Parsons, economist of the North-West University (NWU) Business School, says the MPC decision of 29 May is welcome recognition of the changed economic circumstances that have made this possible.