Amid crises there is a need to be constantly on the lookout and stress-test policy responses for myths
It is funny how myths stick around and fester. SA is of course full of them and they infect the discourse.
It was a sheer delight to see the reaction of our comrades on the left to the Reserve Bank’s stonking hike of 75 basis point last week. I thoroughly recommend everyone to read it. The idea is rehearsed that the monetary policy committee is somehow lacking in flexibility and lacks credibility because it is hiking in response to a supply shock as inflation climbs with higher petrol and food prices.
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