Meanwhile, credible monetary policy – moving back within the inflation target – will help moderate volatility and facilitate SA’s adjustment to US policy normalisation. Third, we need to be competitive, which in part means ensuring inflation does not price South African goods and services out of world markets. Monetary policy must retain and strengthen its focus on inflation.
In doing so, we will push the envelope of transparency and clarity wherever possible; to help ensure that inflation expectations do not drift from the target. My concluding message to you is that we must keep our eyes on our goal: to get South Africa growing again, to create jobs, to restore our macroeconomic balances, and deliver meaningful transformation. Thank you.