The model which looks to the future is the Aggregation, Coordination, Output Model which is epitomised by the new Economic Union. The aggregation of the resources of the member countries can be outlined in terms of both economic theory and economic geography.
Central bank independence emerged as an effective way of ensuring that monetary policy focused on the key objective of keeping prices stable. To ensure that the SARB could pursue that objective independently and effectively, the late 1990s was marked by further enquiry into monetary policy frameworks. The early 2000s saw our biggest policy shift, the adoption of the inflation-targeting framework.