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South Africa's experience with monetary policy within an inflation‐targeting policy framework

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This chapter discusses the South African experience with inflation targeting (IT). The author describes the institutional underpinnings of monetary policymaking in South Africa, including the instruments that have been put in place since introduction of IT to strengthen the central bank's communication with market participants and the public in general. On discussing the main features of the South African regime, he contends that monetary policy has become more forward‐looking following the introduction of IT.
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Document Type: Review Article

Publication date: April 1, 2008

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