Today its main task, as defined in terms of the South African Reserve Bank Act and in the Constitution of the Republic of South Africa, is to defend the value of the rand, that is, to keep inflation as low as possible. This is very much in line with contemporary central banking all over the world.
2  See Jean-Claude Trichet, “2013 Per Jacobsson Lecture: Central Banking in the Crisis – Conceptual Convergence and Open Questions on Unconventional Monetary Policy,” Lecture at an event for the IMF/World Bank Annual Meetings in Washington, D.C., The Per Jacobsson Foundation, 2013.