The management of the business of the SARB, including the setting of monetary and financial stability policies, vests in the Governor and Deputy Governors, appointed by the President after consultations with the Minister of Finance and the Board of the SARB.
The role of monetary policy The transition to the Great Volatility is not a pre-determined outcome, however. If the nature of the shocks changes – that is, if one of the factors that had contributed to the Great Moderation subsides – the other factor – better policies – becomes more important in ensuring macroeconomic stability.