South african Reserve Bank

The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Banking Act," which gave the SARB the mandate to protect the value of the rand and to promote economic growth and stability. The SARB is responsible for issuing banknotes and coins, managing the country's foreign exchange reserves, and setting interest rates.

The SARB is an independent institution, meaning that it is not subject to political interference. The bank's board of directors is appointed by the President of South Africa, but the directors are not allowed to be members of the government or of any political party. The SARB is also subject to regular audits by the Auditor-General of South Africa.

The SARB has a number of key responsibilities, including:

• Issuing banknotes and coins
• Managing the country's foreign exchange reserves
• Setting interest rates
• Promoting economic growth and stability
• Supervising the banking sector
• Conducting research on economic and financial issues

The SARB is a vital part of the South African economy. The bank's policies have a significant impact on the country's inflation rate, economic growth, and unemployment rate. The SARB also plays an important role in the development of the country's financial sector.

The SARB is committed to transparency and accountability. The bank publishes a wide range of information on its website, including its financial statements, its annual report, and its research papers. The SARB also holds regular press conferences and meetings with the media.