S. Africa’s Kganyago: Did not expect Q1 GDP figures to be so weak

 South Africa’s Central Bank Governor Kganyago  is crossing the wires, via Reuters, explaining that he did not expect Q1 GDP figures to be so weak.

Key quotes (via Reuters):

  • Central bank to make appropriate decision on interest rates at scheduled July MPC meeting
  • Central Bank's fundamental, constitutional mandate is to protect the value of the currency in the interests of balanced and sustainable growth
  • Keeping inflation low, protecting the value of the currency, is supportive of growth

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