South Africa's central bank has begun its rate announcement
The South African Reserve Bank warned that the outlook has deteriorate, although there are no expectations of a rate cut today.
Growth this year is now seen at 1.5% compared to 2.0% in July. The 2016 growth forecast was lowered to 1.6% from 2.1% and 2017 to 2.1% from 2.6%. Inflation forecasts were also lowered moderately.
The SARB will announce rates partway through the press conference but there was some talk of a hike to 6.25% from 6.00%. Two of 31 economists surveyed called for rates to rise with the remainder expecting no change.
