Rate cut; Capitec falls; MultiChoice, retailers bounce; Essential goods hike ban; Zim/SA fence; Nersa
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In today's news headlines:
- The South African Reserve Bank cut its benchmark interest rate to 5.25% as it seeks to support an already fragile economy that’s expected be hit hard by the coronavirus;
- There were large drops on the JSE again yesterday, Capitec the biggest casualty with a 38.51% drop but MultiChoice and retailers benefitted from consumers digging in to weather the restrictions of movement due to the coronavirus. The rand fell to R17.42 against the dollar;
- New regulations have been introduced by the Government to prevent price hikes in essential products like toilet paper, hand sanitiser and baby formula for the next three months. Private medical tests for Covid-19 are also covered by the regulations.
- The Government is going to erect a 40km fence at its biggest border post with Zimbabwe to prevent people infected with coronavirus from entering the country as a measure to contain the spread; and
- Nersa has issued public consultation papers to procure emergency power and to allow the building of more privately owned power plants.
- The South African Reserve Bank cut its benchmark interest rate to 5.25% as it seeks to support an already fragile economy that’s expected be hit hard by the coronavirus;
- There were large drops on the JSE again yesterday, Capitec the biggest casualty with a 38.51% drop but MultiChoice and retailers benefitted from consumers digging in to weather the restrictions of movement due to the coronavirus. The rand fell to R17.42 against the dollar;
- New regulations have been introduced by the Government to prevent price hikes in essential products like toilet paper, hand sanitiser and baby formula for the next three months. Private medical tests for Covid-19 are also covered by the regulations.
- The Government is going to erect a 40km fence at its biggest border post with Zimbabwe to prevent people infected with coronavirus from entering the country as a measure to contain the spread; and
- Nersa has issued public consultation papers to procure emergency power and to allow the building of more privately owned power plants.
