SARB's Guma on the outlook for monetary policy

In the speech 'The outlook for monetary policy' given on 22 June, Dr XP Guma of the South African Reserve Bank said as the formulator and transmitter of monetary policy the central bank needs to communicate its basic objectives, its strategy for achieving them, and its successes and failures.

"It must do this in the interest of democratic accountability. But "in addition, (because) the virtues of central bank independence and price stability may not be self-evident to the body politic, the

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