South Africa’s Kganyago Says Balance of Inflation Risks Are Stable
Lesetja Kganyago during the annual meetings of the IMF and World Bank in Washington, DC, on Oct. 25.
Photographer: Ting Shen/BloombergThis article is for subscribers only.
South African Reserve Bank Governor Lesetja Kganyago said that the balance of risks vis-a-vis inflation are stable after policymakers cut interest rates for the first time in four years last month.
“As far as inflation is concerned, the balance of risks are stable,” he said Friday at a speech at the International Monetary Fund in Washington. Kganyago said that South Africa’s consumer price rises had peaked earlier and at lower levels than in advanced economies, and that positive shocks — lower oil prices, unsnarled global supply chains — were now proving supportive to monetary policy.