Godongwana Announces Lower Inflation Target that Could Drop Interest Rates and Boost Household Spending

Godongwana announces lower inflation target that could drop interest rates and boost household spending

South Africa: New Inflation Target Decision Followed Consultation

[SAnews.gov.za] The announcement of a new inflation target for South Africa of 3% with a 1 percentage point tolerance band, follows agreement between the Governor of the South African Reserve Bank (SARB) Lesetja Kganyago and the Minister of Finance Enoch Godongwana.

South Africa sets bold 3% inflation target in transformative fiscal strategy

Source: Supplied. GCIS. Finance Minister Enoch Godongwana.The 2025 Medium-Term Budget Policy Statement (MTBPS) has announced a major shift from an inflation target range to a specific 3% target — a move aimed at curbing cost-of-living pressures, stabilising prices, protecting savings, and supporting sustainable, inclusive economic growth. Read more...

Treasury: 3% inflation target will improve competitiveness but squeeze short-term revenues – Moonstone Information Refinery

The Minister of Finance, Enoch Godongwana (pictured), yesterday changed the country’s inflation target to 3% with a tolerance band of 1 percentage point. The new target immediately replaces the previous target range of between 3% and 6% and will be implemented over the next two years. This is the first adjustment to the inflation target in 25 years. “This decision follows agreement between the Governor of the South African Reserve Bank and my co…

New inflation target to cut cost of living, borrowing: Godongwana - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Finance Minister Enoch Godongwana says the reduction of the inflation target to 3% will reduce the cost of living and borrowing for households. He announced the reduction when he tabled the 2025 Medium Term Budget Policy Statement (MTBPS) in Parliament yesterday. The new target has immediately replaced the previous target range of between 3%and 6%. It will be implemented over the next two years. Independent analyst Khaya Sithole says, “If you ha…