PRETORIA—South Africa’s central bank responded to the country’s economic slump by maintaining interest rates and cutting its growth forecast Thursday, underscoring the job policy makers have on their hands in halting the rand’s slide and turning around the economy.
Reserve Bank Gov. Gill Marcus kept interest rates steady in a bid to stimulate the economy, saying growth is far too slow. She also cut her forecast for economic growth to 1.9% this year—well below last year’s 2.5% rate. Since July 2012, Ms. Marcus has kept the…
Read the original: South Africa Moves to Revive Growth
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