Sarb: Inflation to remain in target range

Cape Town - South Africa's inflation outlook has worsened because of a weaker rand but is still seen holding within a 3%-6% target band, a Reserve Bank official told a parliament committee on Tuesday.

"The inflation outlook has deteriorated slightly due to a more depreciated exchange rate and higher petrol prices, but is expected to remain in the targeted range over the effective policy time horizon," said Chris Loewald, deputy head of research at the bank.

"Inflation remains inside the target range and measures of underlying inflation are currently below the headline inflation rate."