I thank you all for your willingness to come to Pretoria as I believe that most of you work in Johannesburg. I understand also that your presence reflects a common interest in financial markets – and not merely a desire to gain an advantage over your competitors by obtaining better insights into the thought-processes of central bankers!
Apparently many of you are foreign exchange dealers or are close to the foreign exchange market, so I have chosen to talk to you about volatility in the currency market and about monetary policy.