South African central bank chief Lesetja Kganyago flagged that dollar depreciation because of US tariffs and deflation in China are clouding the outlook for inflation locally ahead of a rate-setting meeting at the end of the month.

South Africa urged G20 countries to show global and cooperative leadership to tackle challenges including rising trade barriers, as the club's finance chiefs met on Thursday under the shadow of President Donald Trump's tariff threats.

South Africa has downplayed the absence of US Treasury secretary Scott Bessent at a meeting of G20 finance chiefs, saying it believed the world’s biggest economy is still “committed” to the grouping as the gathering starts in Durban.