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MNI INTERVIEW: SARB Could Speed Up Hikes If Needed - Naidoo

(MNI) Ottawa
(MNI)

Policymakers can also hit the brakes if needed to bring inflation to target.

South African Reserve Bank Deputy Governor Kuben Naidoo said Wednesday that policymakers can tighten monetary policy more aggressively if needed to reach their dominant goal of returning inflation to target.

“We are in the phase of taking our foot off the accelerator and we will continue to do that," he said in an interview after an online talk at the Toronto Centre, which trains financial supervisors. "We may have to do that faster depending on the data. If that doesn’t work we will have to start applying the brakes, so we will have to take interest rates above what we would consider to be a neutral level.”

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South African Reserve Bank Deputy Governor Kuben Naidoo said Wednesday that policymakers can tighten monetary policy more aggressively if needed to reach their dominant goal of returning inflation to target.

“We are in the phase of taking our foot off the accelerator and we will continue to do that," he said in an interview after an online talk at the Toronto Centre, which trains financial supervisors. "We may have to do that faster depending on the data. If that doesn’t work we will have to start applying the brakes, so we will have to take interest rates above what we would consider to be a neutral level.”

Keep reading...Show less