The South African Reserve Bank (SARB) says it is working to keep inflation under control as external factors continue to push up the cost of living.
The bank brought the Monetary Policy conversation to Bloemfontein in Free State province, where it engaged with public and private sector stakeholders on the state of the economy and how its decisions affect SA.
Its stakeholder Manager, Nimrod Lidovho says the SARB’s main concern is to protect the value of the rand and ensure that people can still afford basic necessities, including food.
“Usually when you talk about Monetary Policy, people are not familiar with these concepts. The SARB is responsible for conducting Monetary Policy in SA, particularly ensuring that we have got low inflation in the country because high inflation is an enemy of the poor because the local money that they have, unfortunately will be insufficient to afford the basket of goods as prices of goods and services keep on rising.”
—SABC—
