Question 9 [10] "The South African Reserve Bank is the central bank of the Republic of South Africa. The primary purpose of the Bank is to achieve and maintain price stability in the interest of balanced and sustainable economic growth in South Africa. Together with other institutions, it also plays a pivotal role in ensuring financial stability." To answer the following questions you will have to find the relevant information by visiting the South African Reserve Bank website: https://www.resbank.co.za/ 9.1. The SARB is the oldest central bank in Africa. On what date did the South African Reserve Bank open? (1) 9.2. How many years after opening did the SARB issue the first banknotes? (1) 9.3. How many governors served the Bank? (1) 9.4. The SARB is state owned and therefore not independent regarding monetary policy implementation. Do you agree with this statement? Justify your answer. (3) 9.5. List the primary functions of the SARB. (3) 9.6. Discuss the role of the National Payment System (NPS).