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Governor Kganyago Says SARB Will Use Policy Tools As Long As CPI Is Elevated

SARB

Wires are running comments from South African Reserve Bank Governor Lesetja Kganyago for CNBC, with the official noting that the central bank will use policy tools as long as CPI inflation is elevated, in order to "ensure that inflation and inflation expectations are anchored at +4.5% Y/Y."

  • The Governor said that South Africa's low GDP growth is due to structural constraints rather than monetary policy. He suggested that without those constraints, the economy could grow by 2.3% Y/Y this year.
  • Kganyago was speaking on the sidelines of the ECB Forum on Central Banking in Sintra, Portugal.

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