Sarb governor urges shift to narrow inflation target
Kganyago says it was a “mistake” to maintain a target band for so long
The governor of South Africa’s central bank said its inflation target band should be abandoned in favour of a 3% target.
Speaking on September 8, Lesetja Kganyago said it had been a “mistake” for the South African Reserve Bank to continue using the 3–6% inflation target band.
He restated his opposition to widening the Sarb’s mandate to include employment, which has been supported by several figures in the ruling African National Congress.
“A more appropriate target would be a point target of
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