South Africa Central Bank Sees ‘Amazing’ Chance to Lower CPI Goal

South Africa’s current low level of inflation is an unmissable chance to reduce the country’s inflation target and lock in the benefits of tame price pressures and cheaper borrowing costs.

“There is a really amazing opportunity right now,” David Fowkes, a member of the South African Reserve Bank’s monetary policy committee, told an audience on Tuesday in Soweto, south of Johannesburg. “This is surely the best opportunity we’re ever going to get.”