Reserve Bank preparing to launch strategic plan: Kganyago

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South African Reserve Bank Governor Lesetja Kganyago says his team is preparing for the launch of its strategic plan in 2025.

Kganyago says this strategy is under review and will kick off in the new year.

He says the plan aims to improve the monitoring of external macroeconomic risks and vulnerabilities while improving the coordination of policy responses amongst others.

Kganyago was speaking to the SABC News earlier today.

“In 2025, we will be updating our strategic review for the next five years and the public figure of. This institution we set ourselves goals and as we go into 2025, amongst the things we have got to be identifying, are the global and domestic trends that would impact on central banking as we reposition our strategy,” says Kganyago.

Lesetja Kganyago reappointed as Reserve Bank Governor for five more years:

Meanwhile, Kganyago says discussions continue to take place about reducing the inflation target.

The Reserve Bank’s target inflation range currently sits between 3% and 6%.

Kganyago says reviewing the target range is a long process that involves both the South African Reserve Bank (SARB) and the National Treasury team.

SARB Governor says work on inflation front not done:

“What is in no doubt is that if we have to revise the target, the target can only be revised lower and the reason is that our inflation target is wider than that of the peer countries and is also on the high side of that of the peer countries. But importantly is that, this is work that the Reserve Bank and the Treasury did in 2001.”