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S.Africa cbank: policy will adjust if there's risk that rising inflation becomes persistent

10/23/2021 | 04:21am EST
IMF and World Bank hold Annual Meetings in Washington

JOHANNESBURG (Reuters) - If there is a risk that a rise in inflation becomes persistent then monetary policy will have to adjust, South Africa's central bank governor said on Friday.

"Should there be a risk that the rise in inflation is persistent and not transitory, there is no question that policy will have to adjust," Governor Lesetja Kganyago said. "But what you can't do is to act pre-emptively or hastily in a manner that chokes the nascent economic recovery."

He added that he did not think there was a risk of the 2013 "taper tantrum," when a Fed announcement that it would begin cutting back on bond purchases led to a sharp sell-off in emerging market assets.

(Reporting by Alexander Winning; Editing by Tim Cocks)


ę Reuters 2021
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