Kganyago says low point for growth has ‘passed’

Lesetja Kganyago
Lesetja Kganyago, governor of the South African Reserve Bank. Image: Elske Photography
Elske Photography

While the growth outlook for South Africa remains subdued, the low point has now "passed" and the economy is forecast to grow at 0.4% in 2016, the governor of the South African Reserve Bank (Sarb) told reporters on November 24.

At a press conference on the central bank's decision to hold interest rates at 7%, Lesetja Kganyago said inflation remained "uncomfortably close" to the upper end of the bank's target range. Annual inflation measured 6.4% at the end of October.

"While the committee

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