SARB's Mboweni on the South African economy

In the speech 'An overview of the South African economy' given on 14 September Tito Mboweni of the South African Reserve Bank said South Africa's large deficit on the current account may stem partly from an exchange rate which was out of balance, but the currency was adjusting to reality.

Mboweni also told a business breakfast that if the large shortfall on the current account persisted for a long time, it would lead to a weaker exchange rate which would fan imported price pressures and force

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