This decision signifies "a small adjustment to the degree of monetary easing" in line with the improvement of the economy as I mentioned at the outset, and that the Bank has not changed its stance to support economic recovery through keeping accommodative monetary conditions.
The foreign exchange market, and particularly the exchange rate of the rand, came under pressure for only a few weeks in October last year. Prices on the Johannesburg Stock Exchange were more directly affected, although the declines registered at that time were wiped out by a strong bull run over the past three months.