We test the concept of the Opportunistic Approach to monetary policy in South Africa post 2000 inflation targeting regime. Our findings support the two features of the opportunistic approach. First, we find that the models that include an intermediate target that reflects the recent history of...

This paper compares forecast performance of linear and nonlinear monetary policy rules using South African data. Recursive forecasts values are computed for 1- to 12-steps ahead for the out-of-sample period 2006:01 to 2010:12. For the nonlinear models we use bootstrap method for multi-step ahead...

Besides the introduction and conclusion, this thesis is comprised of six independentchapters. In this thesis we provide an in-sample and out-of-sample assessment of howthe South African Reserve Bank (SARB) sets its policy rate, post 2000 inflation targetingregime, in the context of both linear...

We test the concept of the opportunistic approach to monetary policy in South Africa post-2000 inflation targeting regime. The article contributes to the current debate on central banks having additional objectives over and above inflation and output by incorporating a measure of financial...

Purpose – The purpose of this paper is to investigate how the South African Reserve Bank (SARB) sets monetary policy rate. Design/methodology/approach – Given the controversial debate on whether central banks should target asset prices for economic stability, the authors analyse whether the...

Purpose – The purpose of this paper is to investigate how the South African Reserve Bank (SARB) sets monetary policy rate. Design/methodology/approach – Given the controversial debate on whether central banks should target asset prices for economic stability, the authors analyse whether the...