Jun.01 — South African Reserve Bank Governor Lesetja Kganyago discusses the outlook for inflation, monetary policy and his view that the International Monetary Fund needs to be adequately resourced on a long-term basis. He speaks with Anna Edwards on “Bloomberg Markets: European Open.”
In This Story: Inflation
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.