South Africa's cent-bank ready to hike rates

By: 
Reuters

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 on Friday.

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.

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