Light ahead for con­sumer

Finweek English Edition - - Letters -

WHAT HAP­PENED SEV­ERAL PAGES of good news dur­ing the past week deal­ing with in­ter­est rates and eco­nomic growth helped some­what to re­lieve the con­sumer’s som­bre mood. Though it had been ex­pected, the SA Re­serve Bank’s de­ci­sion to leave in­ter­est rates un­changed was wel­comed, while economists’ ex­pec­ta­tions of a bet­ter growth rate in the sec­ond quar­ter were ex­ceeded with a fig­ure of 4,9%. BUSI­NESS DAY said the 4,9% was good news, though economists are still ex­pect­ing growth of not much more than 3% for the year. Re­fer­ring to the in­ter­est rate, The Ci­ti­zen said South Africans are heav­ing a sigh of re­lief, and City Press said that Bank Gov­er­nor Tito Mboweni had made a brave de­ci­sion. Beeld said it could have been worse, with busi­ness con­fi­dence and con­sumer op­ti­mism at such a low ebb.

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