Central Banks
South Africa’s Top Central Banker Says Inflation Not Yet Tamed
- Kganyago wants more signs inflation in middle of target range
- Key S. African rate has been steady at 8.25% since May
Shoppers in central Johannesburg.
Photographer: Leon Sadiki/BloombergSouth Africa’s top central banker told the Financial Times that “the job of taming inflation is not yet done,” suggesting he’s in no hurry to cut interest rates.
The comments by Lesetja Kganyago, governor of the South African Reserve Bank, come as central banks in some emerging markets are moving to lower rates as price pressures subside.