Sarb revises growth forecasts upwards for 2012

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The South African Reserve Bank, in its Financial Stability Review published on April 25, revised the growth forecast for the country's economy for 2012 upwards. The central bank lifted its prediction to 3% from the 2.8% estimate in the previous quarter.

The Financial Stability Review said the South African banking system proved "relatively resilient" to the financial crisis, with only "negligible" exposure to the sovereign debt of EU member states, and eurozone bank debt.

With this in mind, the

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