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SOUTH AFRICA: SARB Governor Kganyago Calls For Lower Inflation Target

SOUTH AFRICA
EM BulletBulletEmerging Market News
  • SARB Governor Lesetja Kganyago said that the central bank believes that a lower inflation target would be appropriate after completing research into the issue. He said in a speech that South Africa's inflation target of +3.0%-6.0% Y/Y is higher and wider" than in most countries, adding that the central bank "champions" the idea of lowering the target, "because we believe deeply in excellence in price stability, not just in doing the least we can get away with."
  • President Cyril Ramaphosa sought to assuage fears about the Expropriation Act as he responded to the SONA debate in parliament yesterday, pledging not to allow for forced land grabs. The President also said that the Government of National Unity (GNU) is South Africa's best opportunity to overcome its many challenges, despite occasional differences between the 10 parties forming the ruling coalition.
  • The National Treasury will sell linkers later today.
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  • SARB Governor Lesetja Kganyago said that the central bank believes that a lower inflation target would be appropriate after completing research into the issue. He said in a speech that South Africa's inflation target of +3.0%-6.0% Y/Y is higher and wider" than in most countries, adding that the central bank "champions" the idea of lowering the target, "because we believe deeply in excellence in price stability, not just in doing the least we can get away with."
  • President Cyril Ramaphosa sought to assuage fears about the Expropriation Act as he responded to the SONA debate in parliament yesterday, pledging not to allow for forced land grabs. The President also said that the Government of National Unity (GNU) is South Africa's best opportunity to overcome its many challenges, despite occasional differences between the 10 parties forming the ruling coalition.
  • The National Treasury will sell linkers later today.