Printing money leads to recession: S Africa central bank governor

Johannesburg

SOUTH Africa risks slipping into a long and painful economic recession if the central bank is forced to abandon its policy of reducing inflation and protecting the currency, Reserve Bank governor Lesetja Kganyago said on Sunday.

In an editorial article published in the Sunday Times newspaper, Mr Kganyago said the recent recommendation by an anti-graft agency for the central bank to focus on growth misunderstood the dangers of persistently high consumer prices.