Reserve Bank gives government growth challenge after delivering minimal rate cut
The SA Reserve Bank resisted calls for a more aggressive cut in interest rates even as it slashed its 2019 economic growth forecast, challenging the government to do its bit by delivering on long-promised structural reforms.
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The central bank, which on Thursday provided some much-needed relief for consumers by cutting interest rates for the first time since March 2018, cited “fiscal risks” among factors undermining the rand, highlighting the challenge facing finance minister Tito Mboweni as he seeks to convince ratings companies he can get the nation’s finances into shape.
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