For the second time since its return to the office last year, the Reserve Bank held its monetary policy press conference at its interim head office in leafy Centurion on Thursday, not in that high apartheid black edifice in central Pretoria, which is being renovated.

But though the surrounds were more pleasant, the economic growth numbers the Bank put on the table made you want to weep. It now expects the economy to grow (if growth it can be called) by just 0.3% this year. That’s a precipitous downward revision from its 1.1% forecast as recently as November...

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