The SARB remains concerned, however, that these expectations have become too closely anchored around the upper end of the 3-6% target band. Not only does this raise the risk that any shock to prices will result in a durable overshoot of the target range; it also leaves South African inflation structurally higher than in most of its trading partners.
In the EU, as we all know, the EU Commission published last year its proposal for a Capital Requirements Directive and the Capital Requirements Regulation, which together constitute  BIS central bankers’ speeches  1  the “CRD IV”, the purpose of which is to implement Basel III in the EU. The ECB, in accordance with its statutory task, provided its Opinion1.