South Africa’s 3% inflation goal is robust, Central Bank study shows

Polity Audio Articles · Sep 9, 2026 · 3m

South Africa's 3% inflation goal is robust, Central Bank study shows

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 Janse van Rensburg, Jeffrey Rakgalakane and Rudi Steinbach said in an economic note published late Tuesday.

South Africa formally lowered its inflation target to 3% in November with a 1 percentage…