The central bank must protect the value of the currency. For the implementation of monetary policy, the central bank must be given sufficient autonomy to enable it to make objective decisions on sensitive monetary policy issues, such as the level of interest rates, money supply guidelines, financial liquidity management and bank credit extension policies. The central bank must be accountable to Parliament.
To give effect to this policy approach, the South African Government included the following mandate for the South African Reserve Bank in the new Constitution of the Republic of South Africa:  BIS Review 37/1997  -3-  “The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.