{"id":11257,"date":"2012-06-08T11:03:59","date_gmt":"2012-06-08T09:03:59","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-2-s-africa-cbank-sees-growth-risks-holds-cpi-target\/"},"modified":"2012-06-08T11:03:59","modified_gmt":"2012-06-08T09:03:59","slug":"update-2-s-africa-cbank-sees-growth-risks-holds-cpi-target","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-s-africa-cbank-sees-growth-risks-holds-cpi-target\/","title":{"rendered":"UPDATE 2-S.Africa cbank sees growth risks, holds CPI target"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Growth could be weaker due to global outlook<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Central bank will continue to target inflation<\/p>\n<p> (Adds details, background)<\/p>\n<p><span><\/span><\/p>\n<p>By Xola Potelwa<\/p>\n<p><span><\/span><\/p>\n<p>DURBAN, South Africa, June 7 (Reuters) &#8211; Global economic<br \/>\ndevelopments pose downside risks to the central bank&#8217;s<br \/>\nexpectations for growth this year, while the weaker rand could<br \/>\nfuel inflation, Reserve Bank Governor Gill Marcus said on<br \/>\nThursday.<\/p>\n<p><span><\/span><\/p>\n<p>Speaking at a National Union of Metalworkers of South Africa<br \/>\ncongress, Marcus said the central bank was concerned about weak<br \/>\noutput in the key manufacturing sector, which accounts for about<br \/>\n15 percent of GDP.<\/p>\n<p><span><\/span><\/p>\n<p>The Bank sees economic expansion of 2.9 percent in 2012<br \/>\ncompared to previous expectations of 3.0 percent, slightly<br \/>\nhigher than the National Treasury&#8217;s prediction of 2.7 percent<br \/>\ngrowth this year.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The risks to this forecast are to the downside, primarily a<br \/>\nresult of the risks posed by global developments,&#8221; she said.<\/p>\n<p><span><\/span><\/p>\n<p>The Reserve Bank left its repo rate at a three-decade low of<br \/>\n5.5 percent last month, sounding a warning about the effects of<br \/>\na bleak global outlook on the fragile domestic economy while<br \/>\nsaying inflation was likely to moderate.<\/p>\n<p><span><\/span><\/p>\n<p>Marcus said the depreciation of the rand, largely<br \/>\ndue to the euro zone debt crisis, posed the main risk to the<br \/>\ninflation outlook.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Growth could be weaker due to global outlook * Central bank will continue to target inflation (Adds details, background) By Xola Potelwa DURBAN, South Africa, June 7 (Reuters) &#8211; Global economic developments pose downside risks to the central bank&#8217;s expectations for growth this year, while the weaker rand could fuel inflation, Reserve Bank Governor [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11257","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11257"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11257\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}