S.Africa retail sales up, July rate cut unlikely

JOHANNESBURG – Growth in South Africa’s retail sales accelerated above expections in May, data showed on Wednesday, denting any chance the Reserve Bank will trim interest rates from current three-decade lows this week.

But a separate report showed inflation is well-anchored within a 3-6 percent target band, keeping the door open for further monetary policy loosening in the year if the overall economic outlook turns dimmer.

Retail sales were up 6.

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