Naraidoo, Ruthira; Gupta, Rangan - Department of Economics, Faculty of Economic and … - 2009
of monetary policy to in?ation is nonlinear as interest rates respond more when inflation is further from the target. … made by the SARB in its interest rate setting policy. The main findings are that the adoption of inflation targeting led to …) announced that an inflation zone targeting regime of 3-6% would be in place. We find that a model specification embodying a …