Gavin has recently attended the National Conference in Cape Town which was from the 19th to 21st Oct.
Introduction: Surviving Beyond the Numbers
SAIPA holds a National Conference every five years, giving members and stakeholders in the accounting industry the opportunity to come together and network, share knowledge and hear about updates in the industry.
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Gavin also attended the SARB Monetary Policy Forum.
What is the Monetary Policy Forum all about?
The South African Reserve Bank (the Bank) is responsible for monetary policy in South Africa. It uses several channels to communicate with and create a better understanding of monetary policy among its stakeholders, including the public. One of these communication channels is the Monetary Policy Forums (MPFs). These forums are meetings that are held in each province in South Africa every six months. At these meetings, a panel comprised of senior Bank representatives present recent domestic and international developments that have impacted on inflation, and that motivate the rationale behind the Bank’s monetary policy stance. Relevant topics such as the inflation outlook, the factors impacting it, and the Bank’s inflation and economic growth forecasts are presented to the public. Attendees are invited to comment in response to recent policy developments. The MPFs are chaired by a senior central banker close to the monetary policy process.
Invitations to the MPFs are normally sent to the following individuals:
- provincial and local government politicians and officials;
- representatives of the local business community;
- representatives of organised labour;
- people from academia;
- postgraduate students; and
- media representatives.
Members of the public are also encouraged to attend.
The structure of the MPF meetings is broadly as follows:
- Welcome and introduction, in which the chairperson gives some background on the Bank
and its monetary policy process.
- A presentation by senior Bank staff members dealing with:
- recent inflation outcomes;
- how the economy is doing more generally and how this impacts on inflation;
- prospects for future inflation; and
- recent policy decisions and the rationale behind them.
- A session in which members of the audience ask the Bank’s panel questions, and state
their views on the prevailing economic conditions and monetary policies. The Bank’s panel
members later communicate these views to members of the Monetary Policy Committee.
- Concluding remarks by the chairperson.