We also continue to consider ways to increase the transparency around the scenarios we use in CCAR, including, for example, by modifying our scenario design policy statement to provide greater transparency on the design of the global market shock component of the stress tests.
The South African Reserve Bank is totally committed to doing so, by maintaining inflation within the target range of 3 to 6 per cent per annum. This commitment has been illustrated by our policy actions since inflation targeting was formally introduced in February 2000. That is why I say that we are a long way from needing a R500 note: inflation is under control.