Those who stir up the debate undermine the ANC conference resolution at Nasrec. None of the factions disagree that the rand is one of the most traded currencies in the global market. Hence inflation targeting is good for the stability of the currency to stimulate growth.
This narrow function is derived from the mandate of the SA Reserve Bank which had been crafted with the assumption that employment is a direct outcome of growth.
Prior experience has proven the theory to be exceptionally flawed.
Since the adoption of the Growth, Employment and Redistribution macro-economic strategy in 1996, the economy produced growth with stable currency and low price inflation.