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)

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
Array ( )