Printing money would trigger painful South Africa recession – central bank governor
South Africa risks slipping into a long and painful economic recession if the central bank is forced to abandon its policy of reducing inflation and protecting the currency, Reserve Bank governor Lesetja Kganyago said on Sunday. In an editorial article published in the Sunday Times newspaper, Kganyago said the recent recommendation by an anti-graft agency for the central bank to focus on growth misunderstood the dangers of persistently high consumer prices. “The past half-century is littered with examples of painful recessions caused by the need to reduce runaway inflation created by authorities trying to create growth by printing money,” Kganyago said.
Source:: https://finance.yahoo.com/news/printing-money-trigger-painful-south-105930165.html
