SARB's Mboweni on monetary policy and the markets

In the speech 'Monetary policy and the markets: A two-way street' given on 7 September Tito Mboweni of the South African Reserve Bank said central banking has come a long way since the days, not too many years ago, when monetary policy was shrouded in secrecy.

"Central bank communication was akin to deciphering an obscure biblical tract, and monetary policy very often surprised the markets," Mboweni said.

"It is almost unbelievable that as recently as 1994 the US Federal Open Market Committee

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