Tightening policy during slowdown is not ideal, but necessary – Sarb governor
Growth in South Africa will not arise from more fiscal or monetary stimulus, says Kganyago
The governor of the South African Reserve Bank (Sarb) has said he would "rather not tighten policy" during a slowdown, but, given the economic environment, hiking rates is necessary.
"One of the things we need is for price and wage demands to abide by the inflation target, so that we achieve a lower inflation rate more consistently," Lesetja Kganyago said at a Labour Law Conference in Johannesburg.
Currently, unemployment in South Africa is continuing to increase, but wages are also rising
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