Weekend Argus (Saturday Edition)
Central bank may raise interest rates
South Africa’s central bank sees itself in a gradual monetary policy tightening cycle and stands ready to raise interest rates if adverse developments on the inflation front occur, deputy Governor Francois Groepe said yesterday.
In a speech delivered at a conference and posted on the central bank’s website, Groepe said the bank’s gradual stance on hiking rates was due to sluggish economic growth and a negative output gap.