Part 1: Monetary policy and Covid-19 in South Africa | Economic Research Southern Africa

Part 1: Monetary policy and Covid-19 in South Africa

1 July 2021

Matthew Simmonds, Nicola Viegi, Mamokete Lijane, Konstantin Makrelov, Gina Schoeman

Economic Theme: Macroeconomic Policy Coordination

JEL Code: E51, E52, E58, E61, E63, F34, F62, H12, O23

The discussion is based on Sailing into the Wind: evaluating the (near) future of Monetary Policy in South Africa, by Tumisang Loate, Ekaterina Pirozhkova and Nicola Viegi, that explores how monetary policy seeks to maintain price stability in the emerging post-COVID economic environment:

What are the underlying constraints that affect monetary policy making?
What constraints are facing the central bank?
How has the SARB’s monetary policy framework evolved to accommodate these?
Is inflation targeting an appropriate monetary policy framework given the unprecedented levels of uncertainty?
What role do balance-sheet policies have in maintaining price stability?

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