SA interest rate cut to record low, economy tanks, unemployment soars; Covid-19 to get much worse - SA govt; gold stocks
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In today's headlines:
* South Africa’s central bank has cut its benchmark interest rate to a record low. That follows projections that the country will plunge even deeper into recession than expected after the government extended a nationwide lockdown in response to the coronavirus;
* The SA economy is shrinking dramatically, with the Reserve Bank forecasting a decline of more than 6%;
* Hundreds of thousands of jobs are disappearing, with SA in lockdown;
* Professor Salim Abdool Karim, chair of the Ministerial Advisory Group, has warned that the Covid-19 pain is still to come for South Africa, because none of us have immunity from this deadly new virus; and
* Gold mining company stocks soared on Tuesday on the Johannesburg stock exchange.
* South Africa’s central bank has cut its benchmark interest rate to a record low. That follows projections that the country will plunge even deeper into recession than expected after the government extended a nationwide lockdown in response to the coronavirus;
* The SA economy is shrinking dramatically, with the Reserve Bank forecasting a decline of more than 6%;
* Hundreds of thousands of jobs are disappearing, with SA in lockdown;
* Professor Salim Abdool Karim, chair of the Ministerial Advisory Group, has warned that the Covid-19 pain is still to come for South Africa, because none of us have immunity from this deadly new virus; and
* Gold mining company stocks soared on Tuesday on the Johannesburg stock exchange.
