Reserve Bank’s Lesetja Kganyago says no to printing money
Bank slashes the repo rate to a record low
14 April 2020 - 14:22
UPDATED 15 April 2020 - 08:22
Reserve Bank governor Lesetja Kganyago has ruled out printing money to finance the government’s ballooning deficit.
Speaking on Tuesday after delivering a second interest-rate cut in less than a month to provide relief to an economy that is set to sink into a great deep recession as a result of Covid-19, Kganyago said direct financing of government deficits by the central bank was not necessary, would be inflationary and contrary to its legal mandate...
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