South Africa's Mboweni on monetary policy risks

In this speech Tito Mboweni, the governor of the South African Reserve Bank, outlines some of the major concerns currently facing the central bank.

"We do not have a target for any particular variable - our focus is on the overall inflation outcome, which is the outcome of the interaction of a number of variables," Mboweni said.

"In other words, we cannot say what the appropriate growth of household consumption spending should be, as it would need to be seen in the context of the behaviour of

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