Monetary Policy, Inflation Targeting and Inflation Pressures: Address by Mr T.T. Mboweni

The Monetary Policy, Inflation Targeting and Inflation Pressures address by Mr T.T. Mboweni, Governor of the South African Reserve Bank, to the Bureau for Economic Research Annual Conference of last Thursday is now available from the SARB's website.

Here is what he addressed:

• the SARB's response to recent criticism and comments on their handling of the inflation developments
• the inflation targeting framework
• dealing with economic shocks such as rising oil price; supply side inflation; electricity pricing etc
• should the SARB change the inflation target range or redefine the inflation target basket
• should the SARB invoke the explanation clause as a means to avoid further monetary policy tightening