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Impact of lowering inflation target has ‘exceeded most optimistic expectations’
South African Reserve Bank governor Lesetja Kganyago says the spin-offs from the policy decision to lower the inflation target have “exceeded our most optimistic expectations”. On November 12, Finance Minister Enoch Godongwana announced that the new inflation target for South Africa would be 3% with a one percentage point tolerance band. The previous target range of 3% to 6% had been in place for 25 years.
South African Reserve Bank governor Lesetja Kganyago says the spin-offs from the policy decision to lower the inflation target have “exceeded our most optimistic expectations”. On November 12, Finance Minister Enoch Godongwana announced that the new inflation target for South Africa would be 3% with a one percentage point tolerance band. The previous target range of 3% to 6% had been in place for 25 years.
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