The year-on-year rate of change in the consumer price index (CPI) for all items less fresh food (core CPI) has been at around 0.5 percent recently (Chart 6). With the price stability target set at 2 percent, the Bank has been conducting large-scale monetary easing, but there is still some way to go before achieving the target.
et al, Financial Regulation in South Africa, S.A. Financial Sector Forum, Johannesburg 2001. Republic of South Africa, National Treasury, Budget Review 2004, RP18/2004, Pretoria, 18 February 2004. Republic of South Africa, National Treasury, Medium-Term Budget Policy Statement, October 2003, RP201/2003, Pretoria, 2003. South African Reserve Bank, Governor’s Address, 1994 to 2003. South African Reserve Bank, Bank Supervision Department, Annual Reports, 1994 to 2003.