Godongwana cautious on lowering inflation target
Full impact on consumers must be determined first, finance minister says
03 November 2024 - 08:03
Finance minister Enoch Godongwana has asked the National Treasury and the Reserve Bank to determine the full impact of a transition to a lower inflation target on consumers and the economy.
In an interview with Business Times on Wednesday, Godongwana said a macro standing committee — a joint platform between Treasury and the central bank — has recommended lowering the target, but because the process towards a lower target would be a painful one for South Africans, its impact must be measured before the target can be moved...
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