South Africa’s central bank chief, Lesetja Kganyago, advocates for lowering the country’s inflation target, arguing it would enhance competitiveness and reduce long-term interest rates. However, critics warn that achieving a lower target could require tighter monetary policies, which may harm growth and employment. Finance Minister Enoch Godongwana noted that political backing is needed to revise the inflation target. South Africa’s inflation stood at 3.2% in February, within the target range of 3%-6%.