Another vital pillar in our financial sector reform agenda is the acceleration of financial market development and deepening. We have rolled out various initiatives to further develop the local currency debt and foreign exchange (FX) markets, including the launch of the Government Securities Repo Program in November 2017.
The role of the SARB is to contribute to an environment of financial stability in the interest of sustainable economic growth over the long term, rather than providing short-term growth incentives that, from past experience, can severely damage sentiment and economic growth over the long term.