sarb speech, 2005-11-09
With 1½ days' turnover in the South African foreign exchange market equal to the entire US$20 billion gross reserves currently held by the Bank, and with numerous forces outside of the South African authorities' control having an important bearing on supply and demand in the market for foreign exchange, caution is warranted before entering the market with an exchange rate objective in mind.
Sentiment: neutral
Topic: mp_interest_rate