S.Africa's rand depreciation not immediate threat to financial stability - cenbank deputy governor

JOHANNESBURG (Reuters) - The recent depreciation of South Africa's rand does not pose an immediate threat to financial stability in Africa's most industrialised economy, Francois Groepe, a central bank deputy governor said in a speech on Friday. "The most pressing concern for South Africa, however, would be a sustained, currency-induced overshoot of the 3 to 6 per cent inflation target, which could in turn ‘unanchor’ broader-based inflation expectations from their current levels," Groepe said in a speech published on the bank's website. (Reporting by TJ Strydom; Editing by James Macharia)