Nevertheless, the core mandate of the Bank is price stability, which means that the Bank remains vigilant and stands ready to act against any build-up of inflation pressures which may result in a persistent deviation from the inflation target range.
5  See ‘A semi-structural approach to estimate South Africa’s potential output’ by V Anvari, N Ehlers and R Steinbach, South African Reserve Bank Working Paper Series WP/14/08, November 2014.