This approach seeks to clarify how policymakers will alter policy as economic conditions change, that is, to describe a reaction function. By being more transparent about how policy will evolve as a function of economic conditions, this approach can help the public form more accurate expectations about the future path of monetary policy.
The Bank is committed to the training and development of staff which will be done in pursuit of transformation as envisaged in the new employment equity plan. We will continually strive towards creating an organisational culture that makes the Bank an employer of choice. Acknowledgements I want to thank the Presidency, the Government and Parliament for their continued support.