IMF cuts SA growth forecast

JOHANNESBURG - The International Monetary Fund has slashed South Africa's economic growth forecast to below one percent.

Projections for next year have also been cut by 0.1 percentage points. 

The IMF says that in addition to low growth, South Africa will continue to battle inflation and high unemployment.

It only sees inflation averaging the Reserve Bank’s target of 4.5 percent in 2025.

This means inflation is unlikely to settle to suitable levels for interest rate cuts in the near future.