JOHANNESBURG: Wage strikes in South Africa, coupled with credit rating downgrades and a widening current account deficit do not bode well for inflation, Reserve Bank Deputy Governor Daniel Mminele said on Wednesday.
"Alongside a less favourable outlook for inflation, the domestic growth outlook has deteriorated, not only due to developments in the euro zone and US but intensified further by labour market instability," Mminele said in a speech posted on the bank's website.
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