Kganyago defends inflation targeting

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Reserve Bank governor Lesetja Kganyago
Reserve Bank governor Lesetja Kganyago

Johannesburg - In the event of any adjustment to the South African Reserve Bank’s inflation target range, we should see the target narrowed rather than widened, said bank governor Lesetja Kganyago on Friday.

“The discourse has to be able to bring inflation down. Higher inflation results in higher costs in terms of output and employment,” he said.

“Are you going to do it [change the inflation targeting range] in the middle of a recession? You are going to do it at an appropriate time.

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