And in order to enhance the quality of financial journalism, the SARB sponsors a Chair in Financial Journalism at Rhodes University. The steps towards communication and transparency undertaken by central banks and the SARB in particular have been significant. While we have our own communication strategies, we cannot do this without close interaction with the press and broader media. We depend on each other.
they are subject to regulatory arbitrage (…) possibly pushing activity into the darker corners of the financial system”.2 2/7  BIS central bankers' speeches  Such leakages are typically the result of too narrow interventions in the sense that they were designed to target very specific market segments or activities. As a result, the scope of the macroprudential tool could easily be circumvented.