Right now, we don’t have the high inflation and high interest rates of the past, but we also don’t have the zero rates and close-to-zero inflation of the rich countries. The inflation-targeting paradigm is working pretty well. Given all the challenges facing South Africa, we should recognise that monetary policy is the last place where we should consider risky changes.
We have a well-established  16 Joseph Kopecky and Alan M. Taylor, April 2020, ‘The murder-suicide of the rentier: population  aging and the risk premium’, available at https://www.nber.org/papers/w26943.pdf. 17 Atif Mian, Ludwig Straub and Amir Sufi, 26 March 2020, ‘Indebted demand’, available at  https://scholar.harvard.edu/files/straub/files/mss_indebteddemand.pdf, especially p. 4.