President Jacob Zuma stressed the importance of central banks and their ability to stimulate economic growth, at a meeting of African central bank chiefs. "This gathering occurs at a time when the global economy is still trying to shake off some of the negative legacies of the global financial crisis," Zuma said at the 40th ordinary meeting of the Assembly of Governors of the Association of African Central Banks (AACB), held at the South African Reserve Bank on Tuesday. He said central banks strengthened the international financial system by informing international financial regulations. "Vigilance is still needed to ensure that the growth momentum is maintained and that financial markets are resilient," he said. "This meeting provides an excellent opportunity [to talk] about the role central banks can play to address deficiencies and constraints to enhance growth in the different African regions." More focused attention needed to be paid to the role central banks and monetary polic...

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