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South Africa officially has a new inflation target | SA News

Luke Fraser
 ·12 Nov 2025

South Africa will have an official new inflation target of 3% following repeated calls from the South African Reserve Bank (SARB). 

The SARB has been advocating for a lower inflation target for over a year, arguing that the previous band of 3% to 6% was too wide and made the nation less competitive. 

While the SARB’s Monetary Policy Committee (MPC) is responsible for achieving the target, it is actually the Minister of Finance Enoch Godongwana who sets it. 

In the latest Medium-Term Budget Policy Statement, Godongwana…

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