Difficult as the process is, the work under way in different fora pertaining to the reform of the international financial architecture and enhancing regulatory and supervisory standards needs to continue, and we cannot afford to lose the sense of urgency. 3.
Inflation targeting in South Africa  During the global crisis, South Africa was in the fortunate position, where it did not have to consider responding to the economic slowdown with unconventional monetary policy. However, before I look at more recent monetary policy developments in South Africa, I thought that it may be useful to touch briefly on the Bank’s mandate.