SA growth prospects have weakened – Marcus

2013-07-26 12:01

South Africa’s economic growth prospects have weakened and constraints in the electricity supply pose further downside risks, Reserve Bank Governor Gill Marcus has said.

Inflation was seen remaining within a 3-6% target band despite an expected temporary breach in the third quarter of this year, but was “uncomfortably close” to the top of the range, Marcus told the bank’s annual general meeting.

“Against the backdrop of a volatile currency responding to domestic and global developments, we can expect a challenging year ahead for monetary policy,” she added.

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