South Africa central bank does not expect recession: governor - CNBC Africa

South Africa central bank does not expect recession: governor

Southern Africa

by Reuters 0

The economy, while weak, will not go into recession this year. Photo: Flickr

South African Reserve Bank Governor Lesetja Kganyago said on Tuesday the economy, while weak, will not go into recession this year and that expectations inflation will rise above its target range in 2016 are unlikely to draw a monetary policy response.

"Our expectation is that next year, in the first quarter and in the fourth quarter, inflation will be outside of our target range. We think that is temporary," Kganyago said in an interview.

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