September 13, 2017 / 8:00 AM / 10 days ago

Pressure on South Africa's central bank a key credit risk: Moody's

A Moody's sign on the 7 World Trade Center tower is photographed in New York, file. REUTERS/Mike Segar

JOHANNESBURG (Reuters) - Moody’s on Wednesday warned that the gradual erosion of South Africa’s institutional framework and recent pressure on the central bank to change its price and inflation targeting mandate were key risks to the country’s credit rating.

Zuzana Brixiova, a senior analyst for the ratings agency, also told a conference in Johannesburg that space for the Treasury to implement counter-cyclical fiscal policy to keep deficits in check had been eroded.

Reporting by Olivia Kumwenda-Mtambo; Writing by Mfuneko Toyana; Editing by Ed Stoddard

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