Our actions during the crisis clearly demonstrated this reaction function. Thank you. 5/7  BIS central bankers' speeches  6/7  BIS central bankers' speeches  1 ECB (2010), “Monetary policy transmission in the euro area, a decade after the introduction of the euro”, Monthly  Bulletin, May.
Page 8 of 9  Conclusion  Allow me to end my address by reiterating that in line with its constitutional mandate, the SARB will continue to seek to ensure that the purchasing power of our currency is protected.