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Locate 5 Adda Edit Edit pie Renar Share E-mail Send Expo Question 2 South Africa switched to an inflation targeting monetary policy regime in February 2000. Discuss this change with reference to the motivation for the decision, the important characteristics of inflation targeting and the relevant South African institutional detail of its implementation, Intro Inflation targeting involves the monetary authorities making price stability over a specified time period their primary goal. What is the key to inflation targeting strategy is a credible and independent central bank. It gets this status over time with public announcements and communication to the general public. This makes the strategy very transparent and high levels of transparency builds accountability. This then, forms the basis for the public to anchor their inflation expectations to the target the central bank has set. These inflation expectations then become the basis for wage and price setting. Show Zoom