There is speculation that Finance Minister Enoch Godongwana may formally announce a new inflation target at the upcoming Medium-Term Budget Policy Statement.
Recently, ratings Agency Fitch said it expected the National Treasury to reveal the new inflation target, which the Reserve Bank would then have to implement.
This follows the Reserve Banks Monetary Policy Committee interest rate announcement in July, that it will target the bottom end of the 3 to 6 target range with immediate effect.