Initiatives promoting African economic development  Many initiatives have been undertaken to promote economic development in Africa. Article 44 of the Abuja Treaty calls for the harmonisation of economic policies across the African continent. The Treaty emphasises two important pillars of economic integration across the African continent: the promotion of intra-Africa trade and the enhancement of monetary co-operation.
Turning now to inflation, the outcome for the March quarter was noticeably lower than we had expected. In year-ended terms, headline inflation was 1.3 per cent and in underlying terms it was around 1½ per cent (Graph 10). Looking through the details of the CPI, there appear to be only limited inflation pressures across much of the economy.