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SARB to Assess Lower Inflation Target

SOUTH AFRICA
  • As part of the SARB’s policy review, the central bank will 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 what is important is that the bank demonstrate that they mean business on inflation.
  • The former ANC Secretary-General Carolus has stressed that Ramaphosa should come clean on the allegations against him surrounding theft of FX at his Limpopo farm in 2020.
  • Troubles are mounting ahead of the upcoming ANC policy conference, with EWN reporting that some factions of the ANC are gearing for a new leadership election – making the party meeting a de-facto national general council. The claims are in response to fractures emerging among the party after the accusations made against Ramaphosa in recent weeks.
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