Reserve Bank governor Lesetja Kganyago likes to move ahead rather than holding still. He used a key policy speech at the University of Stellenbosch recently to set out how he wants to take forward SA's inflation-targeting policy.

Kganyago told Business Times and the Financial Times a couple of months ago that he wanted to see the 3%-6% target lowered, in an effort to cut SA's inflation rate to levels closer to those of its major trading partners. This time, he was categoric that he wanted the target changed to a point target of 3%, to bring SA in line with the best performing of its emerging-market peers...

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