Nevertheless, the monetary aggregates should continue to be able to play much the same role as they currently play in monetary policy formulation, despite some difficulties that may be experienced in the transition period. (b)  Currency issue  The Reserve Bank Act gives the Bank the sole right to issue banknotes and coins in South Africa.
In 2008, some 8 of the 16 euro area countries had a current account deficit ratio above 5%. In 1999, only 2 countries exceeded the 5% mark. In some (but not all) of the countries with current account deficits, there were also sharp increases in domestic asset prices, particularly house prices.