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Sarb revises growth forecast to 0.4%

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Johannesburg – The South African Reserve Bank (Sarb) has revised its growth forecast from 0% to 0.4%, governor Lesetja Kganyago announced on Thursday.

Following the Monetary Policy Committee (MPC) meeting in Pretoria, Kganyago said that the bank would pause the rate hike, which is currently at 7%. This was in line with market expectations. He added that although economic growth showed improvements in the second quarter of the year, the outlook remains constrained for the next two years.

READ: Sarb holds interest rates steady

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