Most emerging market central banks have adopted inflation targeting as their monetary policy system. The heart of inflation targeting system is inflation expectations. The success of a central bank in achieving targets depends on to the extent to which inflation expectations are formed by the...

This paper examines the demographic determinants of inflation expectations in South Africa. Five surveys covering the period 2006-2016, and consisting of over 12000 observations were empirically examined using time series, cross-sectional, censored and quantile regressions. We assess whether...

This paper tackled the monetary policy performance in South Africa under inflation targeting framework. It utilized a sample that covered the period from 1980:Q1 to 2010 Q3. The aim of this paper was to assess the monetary policy through the estimation of two specifications of the Reserve's Bank...

Most emerging market central banks have adopted inflation targeting as their monetary policy system. The heart of inflation targeting system is inflation expectations. The success of a central bank in achieving targets depends on to the extent to which inflation expectations are formed by the...

The proposition that inflation expectations can be extracted as inflation predictions from the government bond yield curve has been tested, with partially positive results, using data from the United States and European countries. Despite the abundance of empirical studies of the proposition,...

This note identifies supply factors, particularly the exchange rate, as key drivers of inflation in South Africa. Demand factors play a negligible role, with a flat Phillips curve apparent since the inception of the country's inflation targeting regime. The Phillips curve flattened further with...

Inflation is a monetary policy outcome, but in the short to medium term, price and wage decisions are co-determined by the public and private sectors. Many central banks have adopted transparency as a strategic policy approach, whereby communication of monetary policy goals is used as a public...