Middle East War Turmoil Clouds Rate Cut Prospects, South Africa Central Bank Chief Says

Middle East war turmoil clouds rate cut prospects, South Africa central bank chief says

South African Reserve Bank Governor Lesetja Kganyago ​also said the ​bank would not update its inflation or growth forecasts between meetings

Middle East turmoil clouds rate cut prospects, says Reserve Bank governor Lesetja Kganyago

Reserve bank governor Lesetja Kganyago says it is difficult to see a near-term path for easing interest rates due to the volatility from the conflict in the Middle East and its impact on inflation. Kganyago also says the bank would not update its inflation or growth forecasts between meetings and was relying on “scenarios” to help it understand the impact of wildly gyrating prices for commodities including fuel and fertilizers. “All that we know…