MONETARY POLICY TRANSPARENCY IN SOUTH AFRICA

2005 ◽  
Vol 72 (2) ◽  
pp. 349-364 ◽  
Author(s):  
HUGO NEL ◽  
KAONE LEKALAKE
Keyword(s):  
South Africa ◽  
Monetary Policy ◽  
Monetary Policy Transparency

scholarly journals Monetary policy transparency and financial market forecasts in South Africa

2008 ◽  
Vol 2 (1) ◽  
pp. 31-56 ◽  
Author(s):  
Vivek Arora
Keyword(s):  
South Africa ◽  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Empirical Work ◽  
Economic Benefits ◽  
Cross Sectional ◽  
Inflation Forecasts ◽  
Reserve Bank ◽  
Monetary Policy Transparency

The transparency of monetary policy in South Africa has increased substantially since the end of the 1990s. But little empirical work has been done to examine the economic benefits of the increased transparency. This paper shows that, in recent years, South African private sector forecasters have become better able to forecast interest rates, are less surprised by reserve bank policy announcements, and are less diverse in the cross-sectional variety of their interest rate forecasts. In addition, there is some evidence that the accuracy of inflation forecasts has increased. The improvements in interest rate and inflation forecasts have exceeded those in real output forecasts, suggesting that increases in monetary policy transparency are likely to have played a role.

An Econometric Model for Monetary Policy in South Africa

1995 ◽  
Vol 63 (4) ◽  
pp. 317-329
Author(s):  
G.L. WET ◽  
ESTELLE JONKERGOUW ◽  
RENEE KOEKEMOER
Keyword(s):  
South Africa ◽  
Monetary Policy ◽  
Econometric Model
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