# Absa has lowered its 2025 growth forecast for the South African economy by half and predicts two more rate cuts for later this year. The bank says it expects the economy to expand by only one-percent this year, down from a previous estimate of 2.1-percent. It also predicts the South African Reserve Bank will cut the repo rate by 25 basis points when it makes its rate decision announcement later today. An economist at Absa, Andiswa Nondudule, says this should take the repo rate to seven-percent.
Absa reduces its growth forecast for the SA economy