Gill Marcus: The outlook for monetary policy Address by Ms Gill Marcus, Governor of the South African Reserve Bank, to the Bureau for Economic Research Annual Conference, Johannesburg, 22 April 2010. *  *  *  Introduction The global economy appears to be emerging from one of its most turbulent periods in living memory.
Due in part to the unprecedented and largely coordinated policy responses that were undertaken by monetary and fiscal authorities around the world, we seem to have weathered the storm. However, while there are many positive developments, we cannot be blind to the risks and uncertainties that persist which could have systemic implications globally.