October 4, 2016 / 5:37 PM / 4 years ago

Fall in South African inflation seen temporary - cbank governor

Lesetja Kganyago, Governor of the Reserve Bank of South Africa, poses for a photo in the Manhattan borough of New York October 6, 2015. REUTERS/Carlo Allegri

JOHANNESBURG (Reuters) - The South African central bank governor said on Tuesday the decline in consumer inflation to within the bank’s target range of 3-6 percent is expected to be temporary and that there is no room for complacency in monetary policy.

“We have, however, benefited in recent months from movements in from some global and domestic factors that have aided downward revisions to our inflation forecast,” Reserve Bank Governor Lesetja Kganyago said in a speech delivered in New York and posted on the bank’s website.

“We also know that the positive factors underlying the more favourable outlook can change very quickly, and therefore there is no room for complacency.”

Reporting by Olivia Kumwenda-Mtambo; editing by Mark Heinrich

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