29 September 2006
In 2003, after three years of inflation targeting, it was decided to hold
periodic strategic planning sessions of the Monetary Policy Committee to
discuss broader theoretical monetary policy issues, as well as practical issues
related to the implementation of the inflation targeting framework. The first
strategic planning session was held in 2003. Having accumulated a further three
years of experience, and mindful of new theoretical and technical developments
in the area of monetary policy, the Monetary Policy Committee decided early
this year to organise another strategic planning session from 28 September to 1
October 2006.
As with the previous meeting in 2003, the current programme is structured to
provide for challenging debate around new perspectives. The first session
focuses on international trends in the implementation of inflation targeting.
The second and third sessions provide an opportunity for the MPC to debate and
challenge the views of international experts on the South African
macro-economic policy framework and on dealing with macro-economic
imbalances.
The remaining sessions relate to the internal workings of the committee.
These include a critical discussion of the forecasting models of the bank, the
content of the presentations to the MPC and the communication strategy of the
bank.
The ultimate objective of the strategic planning session is to ensure the
optimal implementation of monetary policy within the inflation targeting
framework. This meeting is not meant to decide on a monetary policy stance.
Enquiries:
Samantha Henkeman
Tel: (012) 313 4669
Email: Samantha.Henkeman@resbank.co.za
Issued by: South African Reserve Bank
29 September 2006
Source: South African Reserve Bank (http://www.reservebank.co.za)
