Stals firm on monetary policy
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.SOUTH AFRICA'S central-bank governor ruled out a deliberate relaxation of monetary policy to help the newly re-elected African National Congress drag the country out of recession and reduce unemployment. The Reserve Bank Governor, Chris Stals (pictured), expressed concern that falling gold prices could make South Africa's jobs crisis worse.
With gold accounting for less than 3 per cent of its total economic output, a further fall in prices would have a marginal effect on overall growth rates. But the impact on South African jobs could be significant, with spill-over effects on neighbouring countries such as Lesotho and Mozambique that supply labour for South African mines.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments