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Question 1 [20 Marks] You have been appointed as the governor of the South African Reserve Bank. One of your roles is to be the head of the committee that decides what form the tools used to implement monetary policy should take. A collaborative economic report by the central banks economists indicates the following: The CPI and the PPI are increasing. The countrys exports of platinum, maize and fresh produce are on the decrease. The employment rate is expected to decrease. The GDP is expected to decrease. the subsequent increase in the price of imported goods Required: Discuss what monetary policy should be implemented by the central banks committee. Explain how this policy will affect interest rates, consumption and spending of consumers and businesses across the country. Compulsory sources to peruse: 11.The following must be adhered to: You have been provided with three (3) academic sources (see below). These sources are compulsory and must be consulted and referenced when answering the research question. It is imperative to note that the compulsory sources must be accessed using the Library module on ColCampus. Compulsory sources to peruse: Chipote P & Makhetha-Kosi P. 2014.Impact of Monetary Policy on Economic Growth: A Case Study of South Africa. Mediterranean Journal of Social Sciences.Vol 5 No 15 online available at:https://www.mcser.org/journal/index.php/mjss/article/view/3209 Accessed 19 October 2022. (GOOGLE SCHOLAR) G. Gass, C & Smith. 2020 Investment patterns: monetary policy reconsidered. Economic Trend Vol 8 No4 online available https://hdl.handle.net/10520/AJA0259188X_1375 Accessed 19 October 2022.(SABINET JOURNAL) N, Le Roux., D, van der Merwe., C, Wilders & M, Wissing 2017.Consumer decision- making and psycho-social well-being : two complementary perspectives? Online

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