Abstract
M.Sc.
The aim of this study will be to analyse the functioning and evolution of the South
African monetary policy system since the Second World War. We are particularly
interested in how international events, developments and experiments have influenced
and been influenced by changes in economic sentiment and insight and how this has
moulded South African monetary policy into the system in operation at the present day.
Moreover, this study will highlight the fact that monetary policy in South Africa as well as
abroad has in deed been an 'instrument of the times.'