That is not to say that central banks are not pressurised by political and other elements in society to act in a particular way, and monetary policy in South Africa has not been without its domestic critics and political economy challenges.
The monetary policy framework has been criticised, and, not surprisingly, opposition has tended to intensify during the upward phases of the interest rate cycle. But the South African Reserve Bank has been able to resist such pressures, as its operational independence is entrenched in the Constitution.