Business Times

SA recovering "reasonably rapidly": Marcus

23 February 2010 - 12:30 By Reuters
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South Africa is coming out of its first recession in almost two decades reasonably rapidly, says Reserve Bank Governor Gill Marcus.

“Various short-term indicators also show South Africa coming out of the recession reasonably rapidly,” Gill Marcus told parliament.

Marcus also said monetary policy remains directed towards containing inflation. The central bank has cut rates by 500 basis points since December 2008, and left the repo rate flat at 7,0% at its last four meetings.



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