Friday, September 18, 2009

SA’s economy nearing recovery – Reserve Bank

By Kim Saulse
18 September 2009

Outgoing Reserve Bank governor Tito Mboweni says South Africa’s economy may begin to recover from its first recession in 17 years over the next few months, while inflation continues to ease.

In his last speech to an annual general meeting of the bank, Mboweni said the slowdown in inflation was being hampered by rising electricity and wage costs.

He added that the current strength of the Rand may be overdone.

The Reserve Bank is worried about possible imbalances created by recent trading levels.

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