Mboweni on economic developments & monetary policy

In a speech on 'Economic developments and monetary policy' given on 22 July, Tito Mboweni of the South African Reserve Bank said that the bank still believes that an inflation-targeting monetary policy framework allows an independent central bank to commit credibly to its long-term goal of price stability.

"The global economy started to recover at an accelerated pace during the course of 2003 and the first quarter of 2004 and then growth seems to have slowed down somewhat in the second quarter

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