Can there ever be too much information? The Reserve Bank seems to think so. (https://www.businesslive.co.za/bd/economy/2025-01-08-imf-says-reserve-bank-is-a-model-of-transparency-but-must-do-more/) But, in truth, in an era in which we can find out what our neighbour had for breakfast via social media, the idea that more critical and substantial information could be problematic is puzzling.

To be sure, the Bank’s monetary policy framework — a toolbox for managing the economy via money supply and interest rates — is comprehensive and transparent. Since late 1999, when the central bank decided to honour us with its first monetary policy statement, nearly 80 years after its establishment, it has outdone itself in the communication department...

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