The South African Reserve Bank (SARB) Monetary Policy Committee (MPC) has voted to cut the country’s interest rates by 25 basis points. This brings the repo rate down to 7.25% and the prime lending rate to 10.75%.

The announcement comes as the bank foresees lower global interest rates and a weaker outlook for the local economy

South Korea's central bank cut interest rates for a fourth time in the current easing cycle on Thursday as Washington's attempts to reorder global trade fanned downside risks for economic growth and inflation.