SA in policy tightening cycle: Kganyago

Johannesburg - Falling oil prices and benign food prices have served to improve the inflation outlook, but the South African Reserve Bank (Sarb) remains in a gradual policy tightening cycle, Sarb governor Lesetja Kganyago said.

In a business speech made available on Friday, Kganyago said given South Africa's reliance on portfolio inflows to finance its current account deficit, normalisation of US monetary policy would result in the re-pricing of local financial assets.

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