Conclusion  As already indicated, this decision was taken after lengthy deliberations and a detailed analysis of the underlying economic conditions in the country by senior staff of the Reserve Bank.
More in particular, the latest decision of the Monetary Policy Committee took note of the following economic developments: •  Favourable global growth prospects with some signs of an acceleration of inflation in industrial countries and a concomitant rise in their interest rates. •  South Arican recovery in domestic economic activity that gathered momentum during the course of 1999.