Tito says boogie, not sunshine or moonlight, to blame for inflation PRETORIA. Reserve Bank Governor Tito Mboweni says he will base all future monetary policy on the lyrics of Michael Jackson, and has urged economists to identify the real causes of spiraling inflation. "Don't blame it on the sunshine," he told reporters this morning. "Don't blame it on the moonlight. Don't blame it on the good times. Blame it on the boogie."
Mboweni said his decision to use Jackson as the theoretical bedrock of future fiscal policy was based on the fact that he shared a name with one of the Jackson Five, Tito Jackson.
Addressing the current crisis of rising energy and food prices and a weak Rand, Mboweni told reporters that the inflation outlook was grim.
"You know it's bad, it's bad, you know it, whoo!" he said, grabbing his crotch and pulling the brim of a white fedora over his eyes.
However, he said, the country's Monetary Policy Committee had a clear vision of what it needed to do to inflation.
"Just beat it, beat it, beat it," he said.
"No one wants to be defeated. Showing how funky strong is your fight, it doesn't matter who's wrong or right – just beat it."
He said it was important that South Africans learn to change their spending habits, and conceded that he still needed to reassess and adjust his own financial priorities.
"I'm starting with the man in the mirror," he said. "I'm asking him to change his ways. And no message could have been any clearer: if you want to make the world a better place take a look at yourself and then make a change.
"Na-na-na, na-na-na na na," he added.
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