Reserve Bank eyes 3% inflation target, hints at lower interest rates [SOUND]

# The South African Reserve Bank says it now prefers inflation to settle at three-percent, down from the current three- to six-percent target range. Reserve Bank governor, Lesetja Kganyago says lower inflation could mean lower interest rates, with models showing rates falling below six-percent over time. The governor stressed that the move aims to anchor expectations, support the rand, and reduce long-term borrowing costs and will guide future meetings: