Finance Minister dismisses speculation on 3% inflation target
Finance Minister Enoch Godongwana has firmly dismissed speculation that government will formally adopt a 3% inflation target, following a recent announcement by the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC).
The SARB's MPC had indicated a preference to target inflation at 3% going forward, raising expectations that the Ministry of Finance would officially endorse this shift during the upcoming Medium-Term Budget Policy Statement (MTBPS).
However, Godongwana made it clear that "Minister Godongwana has no plans to do this."
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