Answer to Question #202854 in Macroeconomics for Stefan

Question

In a recent article on BusinessLive, Duma Gqubule argues that South Africa does not have a real central bank. He criticises the conduct of monetary policy and puts forward a range of proposals under the umbrella term monetary finance. 1. Compare his proposals to what you have learned about monetary policy in Chapter 9. You can compile a summary table as follows. (12)

The SARB’s way & Gqubule’s proposals

• The objective of monetary policy
• The targets
• The way in which policy is conducted, and instruments used

Answer 1

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