South Africa
Rate cuts 'won’t cure skills shortage'─── 18:00 Fri, 25 Sep 2020
Lesetja Kganyago
Additional interest-rate cuts won’t resolve the real problems holding back the economy, according to Reserve Bank Governor, Lesetja Kganyago.
No amount of quantitative easing or interest rate cuts would produce the kind of skills this economy needs, Kganyago said in an interview with Business Day TV.
This was after some politicians and labour unions urged the bank to do more to support an economy that the bank expects to contract by 8.2% this year, even after it slashed its key rate by 300 basis points.
Moneyweb
