First, the Governor was required to provide a comprehensive report to Parliament at least six-monthly, explaining how he saw the inflation situation and how monetary policy would be conducted to ensure that  1  It is not entirely clear where our original target of 0 to 2 per cent annual inflation came from.
It has been said that its source was a capricious remark by the Minister of Finance who, when confronted by journalists wanting to know whether he was ‘finally satisfied’ that price stability had been achieved when the CPI first fell below 10 per cent, responded that ‘No, I’m aiming at genuine price stability – you know, something like 0 to 2 per cent’.