South Africa’s unemployment rate of 24,9 1 per cent1 in the second quarter of this year, is amongst the highest in the world.
Also important is for the Central Bank to ensure an orderly functioning of the money markets at the level of interest rates required for anchoring the inflation expectations. It is what the ECB has been doing since the beginning of the turbulences, namely since the beginning of August last year. I thank you for your attention. BIS Review 9/2008  5