Monetary policy and central banking in general has become anything but boring, and rather than taking a back seat in the economy, central banks are now at the forefront of attempts to stabilise and repair the damaged global economy. The mandates of central banks have been extended in numerous countries, including in our own, bringing with it new and difficult challenges.
In my remarks this evening I will focus on the growth and financial stability aspects of broadened mandates in the South African context. The modern mandate of central banks had focused primarily on price stability, reinforced by the increased adoption of inflation targeting.