Stanlib chief economist Kevin Lings said a confidence-boosting national budget would help avoid further sovereign credit rating downgrades and could open the door for the Bank to cut interest rates. "The lingering prospect of a credit ratings downgrade to subinvestment grade by Moody's continues to weigh on the longer-term outlook for the rand," he said. The currency's performance is one of the major factors the Bank considers when making interest rate decisions. Also, Finance Minister Malusi Gigaba remains with the difficult task o...