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South Africa's economy faces major challenges - cbank governor
November 9, 2017 / 5:01 PM / a month ago

South Africa's economy faces major challenges - cbank governor

JOHANNESBURG, Nov 9 (Reuters) - South Africa’s economy faces major challenges and government needs to win back the confidence of businesses and investors by tackling policy uncertainty and corruption, central bank governor Lesetja Kganyago said on Thursday.

Kganyago said in a speech at an investor conference in New York that weak business confidence had shaved an estimated one percentage point off South Africa’s economic growth last year.

He added that the central bank would like to see inflation expectations anchored at around 4.5 percent, compared with 5.1 percent now. The volatile rand currency is the biggest risk to inflation forecasts, Kganyago said. (Reporting by Joe Brock; Editing by Toby Chopra)

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