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Monetary Policy

Both the goals and instruments of “monetary policy” in South Africa do not reflect the South African developmental objectives they are supposed to serve.

Both the goals and instruments of “monetary policy” in South Africa do not reflect the South African developmental objectives they are supposed to serve.

There is a strong lack of congruence between “monetary policy” goals and instruments on one hand and the developmental tone of the national policy imperatives on the other. This disjuncture has led to de-industrialisation, financialisation, chronic unemployment and other developmentally retarding outcomes.