Lesetja Kganyago: Overview of the South African economy Address by Mr Lesetja Kganyago, Governor of the South African Reserve Bank, at the 95th annual ordinary general meeting of shareholders, Pretoria, 31 July 2015. *  *  *  The Bank has come through yet another difficult year, and the coming year looks no less challenging.
At the global level, the past year has been dominated by the expectation of a sustained recovery in the United States and United Kingdom. Despite negative growth in the US during the first quarter of this year, partly due to adverse weather conditions, recent positive labour market trends appear to have remained resilient, and there are increased signs that the recovery will be sustained.