July 25, 2012 / 12:34 PM / 5 years ago

Deflation not major risk for S.Africa-cbank's Mminele

JOHANNESBURG, July 25 (Reuters) - Deflation is not a major risk in South Africa at the moment despite the slowdown in the year-on-year rate of increase in consumer prices, Reserve Bank Deputy Governor Daniel Mminele told a forum on Wednesday.

The Reserve Bank cut its repo rate by 50 basis points to 5.0 percent last week, citing a weaker economic growth outlook while inflation was seen slowing to a low of 4.9 percent in 2013. (Reporting by Xola Potelwa; Writing by Stella Mapenzauswa)

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