Lesetja Kganyago, the governor of the South African Reserve Bank (SARB), has pledged that the central bank will hold the line on price stability.
Kganyago was speaking at an event in New York which promotes South Africa.
He was quoted as saying: ‘There’s not one doubt that we will bring inflation down. It is a given.’ He also said the SARB was committed to protecting the incomes of the poor.
Although inflation is currently within the Reserve Bank’s target of between 3 and 6%, Kganyago had previously warned to not prematurely declare victory over rising prices, which has been a challenge globally since the Covid-19 pandemic and related lockdowns.