# North West University Business School economist Raymond Parsons says the South African Reserve Bank’s decision to keep interest rates unchanged will bring relief to businesses and consumers facing rising living costs. Parsons added the decision reflects concerns about weak economic growth and global uncertainty, including the conflict in the Middle East. He expects South Africa’s economy to grow by only about 1.2-percent to 1.3-percent this year, citing faster domestic reforms are needed to boost economic growth.
Economist Raymond Parsons says interest rate pause is a positive for struggling consumers