Marcus: Deviations from CPI band justifiable

Pretoria - Recent deviations from South Africa's consumer inflation target band have been primarily driven by exogenous shocks and are therefore justifiable, outgoing Reserve Bank governor Gill Marcus said on Thursday.

Marcus, whose five-year term in office will end on November 8, also told a conference on inflation targeting that raising the band from the current 3% to 6% would actually push CPI higher.