October 17, 2017 / 6:02 AM / in a month

South Africa's cenbank cautious about more rate cuts - deputy governor

JOHANNESBURG, Oct 17 (Reuters) - The South African Reserve Bank (SARB) is taking a cautious approach to monetary policy as risks to the inflation outlook are on the upside, deputy governor Daniel Mminele said.

“Amid such elevated uncertainties, and despite the subdued nature of domestic demand, it is not clear how much space exists, if at all, for additional policy rate cuts by the (Monetary Policy Committee) in the coming quarters,” Mminele said in a speech posted on the bank’s website on Tuesday.

“If anything, domestic financial market indicators seem to broadly echo the SARB’s view that the uncertain environment is forcing a cautious approach to policy.” (Reporting by Olivia Kumwenda-Mtambo; Editing by Joe Brock)

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