Is South Africa sacrificing growth and jobs at the altar of inflation targeting?

South Africa's central bank has reportedly prioritized controlling inflation over fostering economic growth and job creation over the last ten years. This focus on a narrow disinflation objective is said to have overshadowed the bank's constitutional mandate to support balanced and sustainable economic expansion. Critics suggest this approach may be hindering the nation's potential for development and employment.

This situation matters because the central bank's monetary policy has a significant impact on the country's economic health, affecting both the cost of living and the availability of jobs.