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South Africa hikes rates, lowers growth forecast

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(Globalpost/GlobalPost)

South Africa's Reserve Bank hiked its key interest rate on Thursday and slashed its 2014 growth forecast further owing to industrial strikes and high inflation.

The central bank raised its repo rate by 25 basis points to 5.75 percent, and said economic growth was now expected to slow to 1.7 percent.

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http://www.globalpost.com/dispatch/news/afp/140717/south-africa-hikes-rates-lowers-growth-forecast