As a guideline the Reserve Bank currently regards a rate of increase of not more than 10 per cent per year in the M3 money supply as consistent with the prime objective of reducing inflation gradually to a level that will be more in line with the average rate of inflation in the economies of South Africa’s major trading partners.
Although the review framework is the same for all applications, the facts of each case can vary widely, from community bank mergers to mergers of much larger institutions that can affect markets across large regions of the country.