Needless to say, that also includes good experience, such as the lastingly successful linking of our two currencies on the basis of our common orientation towards stability. But disappointments likewise played a part. Europe had to learn why over-hasty exchange-rate experiments and a monetary policy aiming directly at employment and growth targets ultimately always failed.
Inflation outlook in the medium term (2008-2010) Inflation outlook in the medium term is influenced by domestic economic activity, imported inflation and international economic and financial developments. For instance, in South Africa, there are upside risks to inflation due to the increase in food, oil and electricity prices and the forecast depreciation of the rand against international currencies.