The Reserve Bank is looking at changing the goalposts for interest rates in South Africa.
The South African Reserve Bank has reiterated its intentions to review the country’s current inflation target range, with governor Lesetja Kganyago pointing to the need for a narrower, lower range.
However, the Bureau for Economic Research said in a note this week that the SARB is pushing for a significant shift for the range.establish a lower inflation target before 2025,“A team of policymakers, comprising the SARB and the National Treasury, are busy identifying the appropriate range and the associated risks,” it said.
Based on the current inflation projections—and the current 4.5% target—the SARB’s forecasts see 50 basis point rate cuts this year , likely in the last two meetings of the year .
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