There is also no mechanism through which the shareholders, or indeed even the Board, can influence these policies. Furthermore, the South African Reserve Bank Act 90 of 1989 caps shareholder dividends at 10 cents per share per annum.
Monetary policy Let me now turn to the second part of my speech, namely the role of monetary policy in the current situation. The financial crisis has contributed to a pace in disinflation and economic deceleration which has been unprecedented.