But central bank independence never meant that the SARB would have completely free reign; neither did it mean lack of accountability. As indicated in Article 224 of the Constitution, which I have just quoted, there has to be (and there is) regular consultation between the SARB and National Treasury.
Page 2 of 11  It is also this consultation that produced the SARB inflation targeting range – the ‘yardstick’ against which we would measure the achievement of price stability. The SARB has operational independence in how to best achieve its policy goals, but does not unilaterally shift these goalposts.