Inflation targeting

Growing our way out of this is kind of a possibility.

But let me ask you about this inflation target.

You know, they keep talking about a 2% inflation target.

And, you know, I've asked David several times about this.

What's the rate of inflation over the last 100 years? And, you know, the numbers is a little bit over 3%.

And Congo extends state control over mining with bid to lock down geological data.

South Africa's 3% inflation target can withstand a range of economic shocks, as expectations have become better anchored and more forward-looking, the central bank said in a new study.

In the absence of major shocks, there's a 78% chance that inflation will remain between the central bank's 2% and 4% tolerance band, authors Theo Jansse van Rensburg, Jeffrey Rackalakane and Rudi Steinbach said in an economic note.

South Africa formally lowered its inflation target to 3% in November with a one-percentage-point tolerance band, replacing the 3% to 6% range that had been in place for 25 years.

The central bank had aimed for the band's 4.5% midpoint since 2017.

Since the outbreak of the Iran war on February 28, the nation has faced mounting price pressures.