‘Uncomfortable’ currency depreciation important for adjustment – Sarb governor
Advantages to depreciation easy to overlook, says Kganyago
Depreciation of the South African rand, while "uncomfortable", is an "important" part of the adjustment to broader economic weaknesses, the governor of the South African Reserve Bank (Sarb) has said.
Speaking in Cape Town on June 1, Lesetja Kganyago noted South Africa's short-term prospects do not look encouraging, with the economy dealing with rising inflationary pressures, low commodity prices and a depreciating currency.
"Economic activity in South Africa is currently weak," Kganyago said
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