SARB says inflation to stay in target

The South African Reserve Bank said Thursday 2 June that inflation will remain inside the 3-6 percent target band and the economy had entered a phase of high growth.

SARB deputy governor Ian Plenderleith told an ACTSA dinner on Thursday night that the more favourable inflation outlook was a reason behind the SARB's surprise decision recently to lower the repo rate to 7 percent in April.

"Our projection looking forward is that inflation will remain within our target range. It is this encouraging