Mr. Stals discusses the current monetary situation in South Africa and the implications for 1998 Address by the Governor of the South African Reserve Bank, Dr. C. Stals, at an investment conference arranged by Huysamer Stals in Johannesburg on 18/11/97. 1. The task and function of monetary policy Monetary policy is about money.
Governments give central banks the special right to issue money, and also a mandate to manage the money system in the interest of economic development. In the final situation, monetary policy is about the quantity of money, the price of money and the value of money.