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The most powerful socialist central planning government agency in South Africa, the Reserve Bank, announced today that it will manipulate the key repurchase interest rate half a percent lower to 5%.
But unlike when Barclays manipulates a secondary market interest rate by 1 or 2 basis points, Keynesian economists and the mainstream media believe this central bank manipulation will be positive for the economy.
It won’t. What it will do, however, is sow the seed for the next business cycle crash.