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Nene says doesn’t see ‘huge’ spillovers from US rate hike

‘The communication and the cooperation that we’ve been having from the US has actually helped’
Nhlanhla Nene, Minister of Finance

Markets have priced in a US interest rate hike and are unlikely to see big spillovers from policy normalisation in the world’s largest economy, South African Finance Minister Nhlanhla Nene told Reuters on Saturday.

“The communication and the cooperation that we’ve been having from the US has actually helped,” Nene said on the sidelines of the Group of 20 meeting in the Turkish capital Ankara.

“That is why I don’t think it’s … an issue that might have huge, unexpected spillovers.”

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