- South Africa's central bank chief said modeling shows current policy settings will return inflation to the 3% target after the initial shock from the Middle East conflict fades.
- Kganyago made the remarks in a prepared speech to the Italian-South African Chamber of Trade and Industries on Thursday, per the source body.
- Kganyago said the bank will act as needed to prevent higher inflation from becoming entrenched.
Quotes
“So far, our modeling indicates that prevailing policy settings are sufficient to return inflation to target after the initial shock has passed”
“We remain firmly focused on our mandate, and will act as needed to prevent higher inflation from becoming entrenched.”