Banks must cut rates to reduce the customer's debt burden and boost economic survival in this tough times-Economist

SAfm — All eyes are on the South African Reserve Bank TODAY as governor Lesetja Kganyago is expected to announce further cuts in the interest rate and possibly announce new measures to cushion the economy amid the covid-19 pandemic. Threats to the slow-growing economy have also been hampered by the weakening South African rand against world currencies. Opposition parties such as the DA have meanwhile called for a four month suspension by the banking sector on mortgages, car and business loan repayments.