At some point today, we'll see the.....>

SOUTH AFRICA: At some point today, we'll see the South African central bank rate

decision, with all economists surveyed  seeing easing via rate cuts - but

there's a decent split in the magnitude of such a cut. 11 of those surveyed via

Bloomberg see a 50bps cut to 5.75% while 10 see a more modest 25bps trim to

6.00%.

- Understandably, the SARB are facing similar issues to those seen globally,

with the inevitable Coronavirus-induced economic slowdown the primary concern.

- As such, it's likely SARB will follow the lead of the Fed and other global CBs

by trimming rates today, which could be the first of a protracted easing cycle

given just how little fiscal space the current government has to stem any

recession.

- ZAR has weakened materially this year, and today hit a new cycle high at

17.5546. A break above 2016's 17.9169 would mark an alltime high.

- Rate decision usually crosses at the press conference that begins at circa

1300GMT. In January, the rate decision itself crossed at 1310GMT.