T T Mboweni: Recent financial and economic developments in South Africa Speech by Mr T T Mboweni, Governor of the South African Reserve Bank, at the eighty-second ordinary general meeting of shareholders, 27 August 2002. *  *  *  Introduction The South African Reserve Bank was again confronted by many challenges during the past year.
I am, however, glad to say that, as on previous occasions, the Bank coped well. Although some ground was lost in containing inflation owing to the exogenous shocks that affected the economy, remedial action has been taken to bring the inflation rate down towards the targeted levels.