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The International Monetary Fund (IMF) has raised South Africa’s growth forecast to 1% this year.
Statistics South Africa (Stats SA) has set itself a goal of modernising the collection of statistics, while also fine tuning trade statistics.
The Reserve Bank has decided to keep the repo rate unchanged at 7% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
South Africans can expect growth of 1.3% in 2017, which is expected to improve moderately to over 2% in the medium term, Finance Minister Pravin Gordhan said on Wednesday.
Moody’s rating agency is expected to announce whether it will downgrade South Africa’s economy.
The Reserve Bank’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 7% per annum.
The Reserve Bank on Thursday kept the repo rate unchanged at 7% - in line with market expectations.
South Africa’s Gross Domestic Product (GDP) contracted by 1.2% in the first quarter of 2016, Statistics South Africa (Stats SA) announced on Wednesday.
The Reserve Bank on Thursday kept South Africa’s repo rate unchanged at 7 percent per annum.
“Tolerating additional inflation in the short run could require larger interest rate adjustments later, with proportionally greater costs for the economy.