Kganyago continues push to lower Sarb inflation target
Economists back South Africa’s central bank governor, but finance minister remains sceptical
As South Africa’s central bank marked 25 years of its inflation targeting regime last month, its governor resumed his longstanding campaign to have the target lowered.
“The inflation targeting framework has served us well,” Lesetja Kganyago told the South African Reserve Bank (Sarb) biennial research conference on March 27. “Since its adoption in 2000, the South African economy has experienced lower inflation. As a result, we enjoy much lower interest rates.”
However, the governor said the 3–6%
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