South Africa’s cbank governor says bar set high for future rate cuts

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JOHANNESBURG (Reuters) – South Africa’s central bank has set the bar very high for ending a policy tightening cycle that has seen it raise lending rates by 200 basis points since early 2014, governor Lesetja Kganyago said on Thursday.

The bank sees consumer inflation, currently at 6.1 percent, averaging 6.4 percent in 2016, outside of its target range of 3-6 percent.


(Reporting by Oliiva Kumwenda-Mtambo; Writing Mfuneko Toyana; Editing by James Macharia)


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