South Africa Expected to Lower Interest Rates After Adopting 3% Inflation Target and Displaying Fiscal Discipline.

South Africa's central bank is expected to lower interest rates by 25 basis points to 6.75% after the government endorsed a 3% inflation target and showed fiscal discipline. Economists and traders predict a unanimous decision, which would cheer consumers and support an economy with tepid growth. The rate cut follows the government's mid-term budget, which showed stronger-than-expected revenue growth and restrained spending.