Gordhan: Sarb very supportive

Johannesburg - South Africa's Reserve Bank (Sarb) has been very supportive to growth in its monetary policy, which has shown the right level of coordination with fiscal policy, Finance Minister Pravin Gordhan said on Wednesday.

The central bank has kept interest rates at a four decade low of 5% since a 50 basis point cut in July last year as it balances the need to aid economic growth with trying to keep inflation within a 3-6% target band.

"The Reserve Bank has been very supportive ... we've got the right level of coordination between fiscal and monetary policy, which are mutually supportive," Gordhan said.

A brake in inflation to 6.0% year-on-year in September from 6.4% previously was "a good sign", he added.