# Fitch Ratings says it expects Finance minister Enoch Godongwana to formally lower South Africa’s inflation target to three-percent in his Medium-Term Budget Policy Statement next month. The country’s current inflation target ranges from three to six-percent. Reserve Bank Governor Lesetja Kganyago in July stated that monetary policymakers now prefer to anchor inflation at the bottom end of their official target band. Fitch’s Thomas Garreau says they do consider that the Reserve Bank will have some tolerance for inflation, and not hike rates as a result.
Fitch expects National Treasury to set 3% inflation target in November