South Africa Cuts Inflation Target for First Time in 25 Years | WION

South Africa has slashed its inflation target to 3% for the first time in 25 years, marking a major shift in economic policy. Finance Minister Enoch Godongwana says the move will gradually lower inflation expectations and create space for future rate cuts. The Treasury and central bank will phase in the new band over two years, balancing reform with fiscal discipline. Markets reacted instantly, with the rand and long-dated bonds rallying after the announcement.

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