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Kganyago Stresses SARB Decisions to Remain Data Dependent

SOUTH AFRICA
  • SARB's Kganyago speaks, stating that the SARB is concerned about rising imported CPI risks, adding that MPC decisions will remain data dependent.
  • Recall that as part of the SARB’s policy review, they are to consider a proposal to lower the bank’s inflation target from it’s current midpoint of 3-6%.
  • Kganyago spoke in an interview stating that nothing is stopping the SARB from moving to a target that’s closer to 3% within the 3-6% range, but he added what is important is that the bank demonstrate that they mean business on inflation.

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