However, economic development does not follow automatically from this monetary policy arrangement. Consequences of inflation targeting in South Africa As monetary conditions in Namibia are so closely linked with those in South Africa, the conduct of monetary policy in that country is naturally of special interest to us.
Both in the United States and in the euro area, inflation peaked in May at 8.6 per cent and 8.1 per cent, respectively (the second figure is based on a still preliminary estimate).