Hard lockdown would undo benefits of record low interest rates, economists warn

South Africa's interest rates are at record lows and there is scope to go even lower during 2021, depending on whether the country's economic recovery suffers a setback, according to economists.

The warning comes as President Cyril Ramaphosa announced South Africa would remain on adjusted alert level 3 regulations, with amended curfew hours as well as closures applicable to the country's main land ports.