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South Africa is unlikely to have growth above 1.5% in the next two years, the Reserve Bank said on Wednesday.
The repo rate will remain unchanged at 6.75% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
South Africa’s current account deficit widened to 2.4% in the second quarter of 2017, the Reserve Bank said on Thursday.
The Reserve Bank’s Monetary Policy Committee (MPC) on Thursday reduced the repo rate by 25 basis points to 6.75%.
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.