Gordhan Sticks With South African Inflation Target of 3% to 6%

South African Finance Minister Pravin Gordhan kept the inflation target at 3 percent to 6 percent, saying the policy would help boost the competitiveness of the economy and raise living standards.

Curbing inflation “is crucial to reducing long-term borrowing costs and providing confidence about the future,” Gordhan said in his budget speech in Cape Town today.