BUSINESSJul 13 · 12:45 UTCSEMAFORTiisetso Motsoeneng

S. African central bank predicts reaching 3% inflation target

South Africa's central bank predicts inflation will reach its 3% target faster due to falling global oil prices, prompting economists to revise expectations of consecutive interest rate hikes. Governor Lesetja Kganyago highlighted the impact of lower oil prices, while Goldman Sachs now anticipates no rate increase at the upcoming meeting. However, geopolitical tensions in the Strait of Hormuz threaten to disrupt oil traffic.

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South African Reserve BankorganizationLesetja KganyagopersonGoldman Sachsorganizationoil pricestopic3% inflation targettopicStrait of HormuzplaceWashingtonplaceTehranplace

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