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Views Article – Sharenet Wealth

Africa, Forex

S.Africa’s cenbank governor says will look to keep lending rates predictable

PRETORIA (Reuters) – South Africa’s central bank will look to keep lending rates predictable and in line with its inflation targeting mandate to support a flagging economy, Governor Lesetja Kganyago said on Friday.

“A more stable and predictable path of interest rates will enhance the environment for sustained economic growth,” Kganyago said at the Reserve Bank’s annual general meeting.

The country suffered a decline in first-quarter economic growth of 3.2%, the worst in a decade, as power outages by state utility Eskom hit mining, manufacturing and retailers.

(Reporting by Mfuneko Toyana; Editing by Alison Williams)


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