world-economy

South Africa's Central Bank Chief Commits to Inflation Target Amid Geopolitical Pressures

South Africa's central bank governor pledged to return the nation's inflation rate to its 3% target amid geopolitical tensions. Business confidence weakened in the second quarter as consumers faced mounting pressure from external shocks. These shocks have clouded the outlook for both inflation and interest rates. The Iran war has emerged as a primary concern for policymakers across multiple economies. Energy price volatility weighs on inflation expectations. South Africa joins regional peers reassessing rate strategies in response to inflation pressures. Officials have signaled determination to anchor inflation expectations despite near-term headwinds.