Number of the Day - 10 December 2025: 25 basis points

Today’s Number of the Day is 25 basis points; the size of the interest rate cut the US Federal Reserve is expected to announce later today. In this episode, Francis Herd and Gareth Edwards unpack why global analysts are 80 to 90 percent confident the cut will go through, what inflation signals the Fed is responding to, and how the decision could ripple through South Africa’s currency, investment flows and inflation outlook. A Fed rate cut normally strengthens emerging market currencies such as the rand, because investors shift money toward markets with comparatively higher interest rates. As Francis explains, South Africa’s interest rates are already elevated, making the country more attractive when the US eases. The hosts also explore the political dimension; including President Donald Trump’s pressure on the Fed, Jerome Powell’s cautious approach, and debates inside the Federal Open Market Committee about how quickly rates should fall in the months ahead. Clear, concise and globally aware, this episode explains how a 25 basis point decision in Washington could subtly shift South Africa’s economic landscape within hours.