Monetary policy has contributed to the containment of CPIX inflation to within the target range against the background of various risks to the inflation outlook. The MPC will remain vigilant and will not hesitate to adjust the monetary policy stance when necessary.
The Bank is committed to the pursuit of low and stable inflation as a major contributing factor to the growth and development of South Africa. 6  BIS Review 76/2006  The Bank will carefully monitor the progress of South African banks towards ensuring their readiness for the implementation of Basel II on 1 January 2008.