"Inflation targeting is still seen by the markets as international best practice, which is why SA should stick with it." Greta Steyn, Fin24.com
Targeting 6% inflation is not international best practice.
The EMU, US and UK will never target 6% inflation.
Continuous 6% inflation destroys 6% of the real value of the Rand in one year and 71% in 20 yrs.
SA accountants unknowingly destroy 6% of the real value of Retained Earnings of all SA companies in one year and 71% in 20 yrs when they apply the stable measuring unit assumption for an indefinite period of time.
Mboweni, Greta Steyn and company do not even understand that.
© 2005-2010 by Nicolaas J Smith. All rights reserved
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Showing posts with label Targeting 6% inflation is not international best practice.. Show all posts
Showing posts with label Targeting 6% inflation is not international best practice.. Show all posts
Saturday 23 May 2009
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