In short, the exchange of know-how and information creates synergies and leads to better informed supervisory decisions and outcomes. Steering the financial cycle So far I have talked about the interaction between the areas of responsibility in the downturn phase of the cycle. But what about the upturn?
The South African Reserve Bank has also been closely monitoring the broad-based measures of inflation expectations, in particular the Bureau for Economic Research’s surveys of analysts, businesspeople and trade unions, which have shown greater stability over the past three to four years yet have remained anchored around the upper limit of the Bank’s inflation target range.