Sarb governor urges shift to narrow inflation target

Lesetja Kganyago
Lesetja Kganyago
Elske Photography

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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