The benefits of the SARB's transparency
This IMF Working Paper suggests that the increased transparency of monetary policy in South Africa since the late-1990s has helped to improve the accuracy of inflation and interest rate forecasts.
The author, Vivek Arora, starts by observing that the South African Reserve Bank transparency in monetary policy "has increased substantially since the end of the 1990s". "But," he argues, "little empirical work has been done to examine the economic benefits of the increased transparency."
Using data
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