Daniel Mminele: Economic and monetary policy developments in South Africa

Address by Mr Daniel Mminele, Deputy Governor of the South African Reserve Bank, at the Central Banking Seminar of the Federal Reserve Bank of New York, New York City, 16 October 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

Ladies and gentlemen, good afternoon.

It is my great pleasure to address this distinguished audience of fellow central bankers as we gather here in New York City to compare the current economic and financial developments across the major regions and to discuss the conduct of monetary policy in a world that finds itself in a transition.

For many of the previous years, as we gathered for the annual meetings of the International Monetary Fund and the World Bank, we had to discuss the reasons for the continued disappointing performance of global growth, and the most appropriate role that  monetary policy could play  in contributing to remedying the shortfalls.