Interest rates unlikely to fall soon, Mboweni

SOUTH AFRICA - South Africans should not expect a drop in interest rates for the remainder of the year, Reserve Bank governor Tito Mboweni said on Tuesday. He also said he opposed the government's plans for a single banking regulator, and believed that banking supervision should remain within the Reserve Bank's jurisdiction.

"It seems unlikely that monetary policy will be relaxed in the foreseeable future," he said in a prepared address to the bank's ordinary general meeting of its shareholder

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