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Central Banks•5 May 2026•

1 min read

SARB Governor Reaffirms 3% Inflation Target Amid Supply-Side Shocks

Key Facts

1South African Reserve Bank Governor Lesetja Kganyago delivered a public lecture on monetary policy and supply shocks at Rhodes University.

2The Governor addressed the importance of the 3% inflation target in the context of managing monetary policy.

South African Reserve Bank (SARB) Governor Lesetja Kganyago delivered a public lecture at Rhodes University focusing on the intersection of monetary policy and supply-side shocks. During the address, the Governor reaffirmed the critical importance of the 3% inflation target in maintaining macroeconomic stability. Kganyago explained how the central bank navigates external pressures while remaining committed to its long-term price stability objectives. The lecture provided deep insights into the SARB's strategic framework for managing volatility in a complex global environment. By emphasizing the 3% anchor, the Governor highlighted the role of clear policy targets in mitigating the impact of unexpected economic disruptions. This engagement underscores the central bank's ongoing efforts to communicate its policy rationale to both the public and academic sectors.