In the past days, for example, the World Bank has downgraded its forecast for the economic growth rate in China for 2009 to 7,5 per cent, compared to the current economic growth rate of around 9,4 per cent. With regards to the financial sector crisis, South Africa appears to have reasonably weathered the storm, as our financial sector remains broadly robust and stable.
A numerical definition of what central banks consider as price stability based on a specific price index is about 2 percent in terms of the year-on-year rate of change in the CPI; this has become the global standard in recent years.