The South African Reserve Bank celebrated 100 years of existence in a virtual ceremony earlier on Wednesday.The South African Reserve Bank celebrated 100 years of existence in a virtual ceremony earlier on Wednesday.
The Reserve Bank made these assertions during a virtual media briefing to present its Monetary Policy Review on Tuesday. The Bank expects global growth to decelerate sharply to 3.7% in 2022, down from an estimated 6.4% last year. The Reserve Bank expects economic growth in the first quarter of the year to reach 0.8%, while growth for the full year has been revised up to 2%.Lead Economist at the Reserve Bank, Witness Sambanegavi says although economic growth is expected to continue, the slow rate of recovery had an adverse impact on jobs.“Three sectors have actually recovered to beyond their 2019 output, and these are agriculture finance, community and social services.
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