Likewise, growth in the second quarter of 2010, according to the initial estimate, was 3.3 percent, and a year later it was 5.2 percent. With that, we can also see that the updates do not systematically tend toward one direction or another. The average of the updates is close to zero.
The Reserve Bank’s functional independence in monetary and related policies is clearly stated in Sections 10 and 35 of the South African Reserve Bank Act. Section 35 empowers the Board of the Bank to make rules “for the good government of the Bank and the conduct of its business”.