US-China battle negatively affecting SA’s economic growth - Kganyago
The world's two largest economies are locked in an escalating trade battle, with tit-for-tat tariffs being imposed by the two sides.
The world's two largest economies were locked in an escalating trade battle with tit-for-tat tariffs being imposed by the two sides.
While speaking in Pretoria on Thursday afternoon, Kganyago announced that the repo rate would remain unchanged at 6.75%.
He said the US-China spat, along with other local factors, continued to hamper prospects of economic growth.
“Weak business confidence, possible electricity supply constraints and high debt levels in certain state-owned enterprises will continue to limit investment prospects. The escalation of trade tensions could significantly impact global trade with likely negative impacts for SA as a small open economy,” he said.