Central bank governor says economic prospects not promising

Speaking at a conference, Kganyago said maintaining consistently low and stable inflation was the best contribution the South African Reserve Bank could make to balanced growth.

South Africa's cenbank governor says economic prospects not promising

South Africa's economic prospects do not look promising, and structural reforms are urgently needed to boost productivity, central bank Governor Lesetja Kganyago said on Wednesday.

Speaking at a conference, Kganyago said maintaining consistently low and stable inflation was the best contribution the South African Reserve Bank could make to balanced growth.

The central bank has said the economy is expected to grow by 0.6 percent this year compared with a forecast of 0.9 percent given by the National Treasury.

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