Private  5  See R. Adalid and C. Detken, “Liquidity shocks and asset price boom/bust cycles”, ECB Working Paper No 732, February 2007. BIS Review 137/2008  7  banks and credit rating agencies also need to have better control and greater transparency with regard to risk exposure. 4.
My emphatic answer to the question is yes, monetary policy is still accommodative and supportive of South Africa’s economic objectives. In elaborating on this short answer, I will discuss three broad issues. Firstly, what is the mandate of the Bank in achieving South Africa’s economic objectives?