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Sarb committed to tame inflation, says Kganyago

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Sarb governor Lesetja Kganyago (Supplied)
Sarb governor Lesetja Kganyago (Supplied)

Cape Town - The country’s economy has been hit by a ravaging drought, and its economic prospects do not look promising, SA Reserve Bank (Sarb) Governor Lesetja Kganyago said at a conference.

Kganyago said the Sarb was committed to containing inflation, although its current monetary policy tightening cycle was one of the most gradual on record.

The bank has gradually raised interest rates by a cumulative 200 basis points since July 2014, as it fights price pressures while at the same time protecting the ailing economy.

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