Daniel Mminele: The year gone by in financial markets and a look at upcoming initiatives

Remarks by Mr Daniel Mminele, Deputy Governor of the South African Reserve Bank, at the annual Financial Markets Department cocktail function, Johannesburg, 7 May 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

Good evening, ladies and gentlemen.

It is that time of the year when we have the pleasure of welcoming you to the Financial Markets Department's (FMD) annual cocktail function. Thank you for joining us. When we agreed the date for this function, we did not know that we would be meeting on the eve of a rather crucial day for our country. Allow me to remind you that voting is an important responsibility of citizenship.

This event allows the South African Reserve Bank (SARB), and specifically FMD, to convey our appreciation for the working relationships we have developed with you, our counterparties - whether it be through the execution of open market operations or by engaging with you on the ever-increasing complexities of financial markets through our regular meetings or access to your research. These engagements make an important contribution to enriching our understanding of financial market developments in support of the formulation and implementation of monetary policy and financial stability policy. We also value that we get to network a little less formally at this event than at our various official forums.