Monetary Policies and Inflation Targeting in Emerging Economies
This book, based on the proceedings of a conference organised by the OECD and the Bank of England's Centre for Banking Studies, examines cross-country issues related to the conduct of monetary policy in emerging markets and the role of inflation targeting in improving macroeconomic performance. it includes both cross-country analysis and country-specific case studies. Countries covered include Brazil, Chile, Colombia, the Czech Republic, Indonesia, Mexico, South Africa and Turkey.
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South Africa's experience with monetary policy within an inflation-targeting policy framework
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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