June 5, 2019 / 10:27 AM / 21 days ago

South Africa doesn't have conditions for quantitative easing - c.bank gov

JOHANNESBURG, June 5 (Reuters) - South Africa’s economy does not fulfill the conditions needed for quantitative easing (QE), central bank Governor Leste Kganyago said on Wednesday.

A top official from the governing party earlier called for a team to be set up to explore the possibility of QE.

“Quantitative easing is a tool available to all central banks, but for you to do quantitative easing the following conditions have to be met: inflation must be so low that it threatens to go to zero, ... interest rates must be very low,” Kganyago said.

“Those conditions do not exist in South Africa.” (Reporting by Mfuneko Toyana Writing by Alexander Winning; editing by John Stonestreet)

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