Reserve Bank Governor shares good news about inflation

The Reserve Bank Governor has announced that inflation is expected to cool sharply, returning to its 3% target by the end of next year, a welcome relief for South African consumers. The forecast comes as the central bank's interest rate hike of 25 basis points last week was seen as a response to the ongoing impact of global supply constraints, which have driven up energy prices. However, the news also underscores the challenges facing the South African economy, which has struggled with tepid growth over the past decade.