Conclusion There is much room for a continuing debate in South Africa on monetary policy, but not so much on the issue of what the objectives of monetary policy should be, or whether inflation is bad or good for the overriding objective of creating more jobs in the country.
The debate should rather concentrate on the effectiveness of the strategy, the operational procedures and the instruments used in the pursuance of a monetary policy objective that has in any case been casted in iron in the Constitution of the Republic of South Africa. BIS Review 54/1997