Monetêre beleid in Suid-Afrika sedert 1965 : die vordering vanaf direkte beheer tot inflasieteikens

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dc.contributor.author Rossouw, Jannie
dc.date.accessioned 2008-01-17T09:25:50Z
dc.date.available 2008-01-17T09:25:50Z
dc.date.issued 2005-06
dc.description.abstract Inflation targeting as a monetary policy framework aimed at low inflation was introduced for the first time in 1990 by New Zealand. South Africa adopted this policy framework in 2000. Inflation targeting was preceded in South Africa by direct monetary policy instruments in the 1960s and 1970s, by money supply growth targets in the 1980s and early 1990s and by an eclectic monetary policy between 1996 and 2000. Inflation targeting is a forward-looking policy, in other words, interest rates are not determined by the current inflation rate, but by the expected rate 12 or 18 months ahead. Owing to the forward-looking nature of an inflation-targeting regime, central banks in inflation-targeting countries have generally adopted three important support instruments for their policy frameworks: inflation forecasting, explanation clauses and the measurement of inflationary expectations (inflation opinion surveys). As the setting of an inflation target is part of a policy approach aimed at reducing and containing inflation through a credible and publicly announced programme, it is important that the general public should accept published inflation figures as a true reflection of price changes in an economy in order to adjust their inflation expectations. For this purpose an inflation credibility barometer should be developed to support the measurement of inflation expectations by including questions about the credibility of the inflation rate in surveys used for sampling the inflation expectations in an economy. en
dc.format.extent 28681 bytes
dc.format.mimetype application/pdf
dc.identifier.citation Rossouw, J 2005, 'Monetêre beleid in Suid-Afrika sedert 1965 : die vordering vanaf direkte beheer tot inflasieteikens', Tydskrif vir Geesteswetenskappe, vol. 45, no. 2, pp. 292-300. [http://www.journals.co.za/ej/ejour_akgees.html] afr
dc.identifier.issn 0041-4751
dc.identifier.uri http://hdl.handle.net/2263/4217
dc.language.iso Afrikaans en
dc.publisher Suid Afrikaanse Akademie vir Wetenskap & Kuns en
dc.rights Suid Afrikaanse Akademie vir Wetenskap & Kuns en
dc.subject Inflation targeting en
dc.subject Monetary policy en
dc.subject Direct controls en
dc.subject Inflasieteikens afr
dc.subject Monetêre beleid afr
dc.subject Direkte beheer afr
dc.subject South Africa en
dc.subject Suid-Afrika afr
dc.subject.lcsh Monetary policy -- South Africa
dc.subject.lcsh Inflation (Finance) -- South Africa
dc.title Monetêre beleid in Suid-Afrika sedert 1965 : die vordering vanaf direkte beheer tot inflasieteikens afr
dc.title.alternative Monetary policy in South Africa since 1965 : progress from direct controls to inflation targets en
dc.type Article en


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