When a senior member of the South African Reserve Bank leaves before their term is up it can rattle confidence and shake the rand. The inner workings of the Reserve Bank - which is independent, but also an integral part of the state - can be confusing. Renée Bonorchis explains.
South Africa's financial stability relies heavily on the SA Reserve Bank. It's the central bank that oversees all other lenders operating in the country and ensures their capital levels are sound. It sets interest rates. It carries out financial surveillance, does stress testing of our financial system and is deeply involved in risk management and the supervision of foreign exchange flows.