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Lesetja Kganyago on holding on to investment grade rating

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Reserve Bank governor says government-bond yields could drop if policymakers implement the necessary reforms

SA Reserve Bank governor Lesetja Kganyago. Picture: BUSINESS DAY/FREDDY MAVUNDA

“SA’s credit rating is in the hands of SA policymakers,” Kganyago said in an interview with Bloomberg Television at the annual meetings of the IMF and World Bank in Washington on Thursday. “South African policymakers know exactly what must be implemented so that Moody’s do not venture” to a downgrade, he said.

While the central bank usually refrains from commenting on fiscal policy, Kganyago and his monetary policy committee have over the past year become more vocal on the urgent need for reforms, especially amid suggestions that the economy should be boosted by cutting interest rates.

 

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