From fragility to strength - the role of price stability
· Lesetja Kganyago, Governor of the South African Reserve Bank (South Africa)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability, public finances and debt, development and emerging economies
LK · Lesetja Kganyago Wiki · South African Reserve Bank WikiFrom fragility to strength - the role of price stabilityContextAddress by Lesetja Kganyago, Governor of the South African Reserve Bank, at the National School of Government, Pretoria, 12 August 2025.
Why it mattersSouth Africa's governor makes the case for a lower 3% inflation target as the route to lower interest rates and fiscal stability.
Problems raised- South Africa's growth lags other countries.
- Fiscal fragility holds back growth.
- Inflation and country risk raise interest rates.
Solutions proposed- Lower the inflation target to 3%.
- Stabilise public debt.
- Achieve lower interest rates through credibility.
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