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Sanders South Africa - First in Bedding
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News Highlight
19th Jan 2012

Interest Rate remains unchanged!

The South African Reserve Bank left its repo rate unchanged at 5.5% on Thursday as expected, with concerns about a slowing economy off-setting the pressures from inflation, which is likely to stay outside its target band for longer than previously expected.

At its first policy meeting of 2012, the bank raised its inflation forecast, saying it expected inflation to be outside its 3-6% target range throughout 2012, with the recent depreciation of the rand being the main ...[MORE]

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Exchange Rates

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Date & Weather

Date: 04.02.2012
Time: 18:12

Capetown:

Temp.: 29 °C / 84 °F
Wind: S / 13 kn
Sunrise: 05:43
Sunset: 20:15

Johannesburg:

Temp.: 19 °C / 66 °F
Wind: VRB / 3 kn
Sunrise: 05:19
Sunset: 19:22
IBN News (27th May 2009): It is official: South Africa is in Recession

News-Archive


It is official: South Africa is in Recession - 27th May 2009

Against all hopes and prayers that the government-financed infrastructure projects will keep South Africa out of recession yesterdays figures show the cruel truth: South Africa's GDP dropped by 6.4%, the worst contraction of its economy since 1984, which brings South Africa into the first technical recession since 1992. While the construction sector is still booming and shows an increase of 9.4%, especially the mining sector with -32.8% and Manufacturing with -22.1% contribute to these bleak findings. Though there is hope for further interest rate cuts, the new governement has now to prove itself and will show, if it can sustain the planned massive spendings and how to steer South Africa through this economic storm.
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