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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