*  *  *  Ladies and gentlemen Distinguished guests Thank you for inviting me here this morning to say a word or two about the South African economy. When I received this invitation to be here this morning, a number of questions arose in my mind.
The primary one being whether a governor of a central bank should speak at occasions such as this which are organised by political organisations. It was a vexing question which required of me a serious answer. Central bank governors have to demonstrate at all times their commitment to the independence of central banks from political influence.