Finance Minister Trevor Manuel strongly defended government's inflation-targeting policy on Tuesday, saying it provided a vital anchor in the context of financial market turmoil.
His remarks, which were made together with the release of the Medium Term Budget Policy Statement (MTBPS), followed only days after the ruling African National Congress' alliance partners met at an economic-policy summit, during which inflation targeting came in for some heavy criticism.
In his address to the National Assembly, Manuel argued that the moderation of inflation "must remain a central policy objective, particularly as we seek to expand investment and job creation under conditions of heightened business uncertainty".
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