South Africa's central bank monetary policy committee (MPC) could meet again on interest rates before its scheduled April meeting, depending on economic growth and other data, Governor Tito Mboweni said on Friday.
The MPC cut the central bank's repo rate by 100 basis points on Thursday, the biggest adjustment in five years, and Mboweni hinted that he had wanted an even bigger reduction, raising expectations of more big cuts to come.
Inflation in Africa's biggest economy is slowing sharply, while worries are mounting about growth.
Consumers are under strain from still high rates, with retail sales falling, new vehicle sales plunging and manufacturing -- the economy's second biggest sector -- in recession.
"There is going to be data coming out towards the end of February and also mid-April, and if that data indicates that the MPC must meet, we might actually meet before the next scheduled meeting," he said in an interview with CNBC Africa, referring to fourth-quarter economic growth data on February 24.
The economy expanded by just 0,2% in the third quarter of 2008, a decade low, and some economists have warned it may be heading for contraction.
"The problem is that some of the quarterly data was not available to us now ... and if that quarterly data indicates a picture different to what we think will be the case, we might need to meet," Mboweni said.
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