system and prudent monetary policies and supported policy tightening to counter rising inflation pressures. Directors …

contain domestic demand, fiscal surpluses are needed, until the benefits of structural reforms are reaped. Low inflation … should be entrenched by adoption of inflation targeting once government support and sound fiscal policies are in place …

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account …

the inflation tax. Accordingly, continued effort is likely to be needed to attain a fiscal position that is sustainable …

This Selected Issues paper for South Africa presents a quantitative analysis of inflation dynamics in the country. The … inflation. Exposed to exchange rate and other shocks, the model confirms that a delayed policy response to inflation shocks … leads to persistently higher inflation rates and, subsequently, to a sharp real contraction of the economy. …

convergence; meeting all of the Maastricht criteria, save for inflation. Estonia’s banking system remains financially sound …