But like us, it has yet to mature, and we can only dream of its potential fruits. I am told by our Minister of Finance in Mauritius, that it is harvest time for the economy. I can only reply that we have yet early seedlings in our regional banking estate.
It achieves this goal by targeting monetary aggregates (broad money supply growth as an intermediate target and reserve money as an operational target) in accordance with real GDP growth and inflation targets set by the Government. Over the years, while maintaining the broad legal mandate, SBP has improved the quality of monetary formulation and its process quite significantly.