Finweek English Edition - - IN BRIEF -

The rate at which the South African econ­omy is ex­pected to grow this year, ac­cord­ing to Moody’s In­vestors Ser­vice, down from its pre­vi­ous es­ti­mate of 2.5%. “Power out­ages have wors­ened dramatically in re­cent months, im­pact­ing industrial con­sumers, busi­nesses and house­holds,” it said in a state­ment. In­fla­tion is ex­pected to rise above 6% by year end, which − to­gether with a prob­a­ble rise in US in­ter­est rates − could lead the Re­serve Bank to in­crease SA’s in­ter­est rates by then, too, de­spite the strug­gling econ­omy, Moody’s said.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.