Charles Molele
President Cyril Ramaphosa has issued a statement reaffirming the mandate of the South African Reserve Bank, saying the recent public spats in the ANC were not helpful and undermined the confidence of investors.
Following a meeting of the ANC’s national officials bearers, Ramaphosa said that changing the mandate of the central bank was ‘simply not prudent’ at this stage.
“The officials emphasized the policy positions of the ANC on the independence and role of the SA Reserve Bank as set out in the Constitution of the Republic of SA,” said Ramaphosa.
“The Constitution sets the role of the Reserve Bank as protecting “the value of the currency in the interests of balanced and sustainable economic growth.” It further states that this mandate must be exercised in regular consultation with government, through the Cabinet minister responsible for national financial matters. This policy has not changed. It is our desire
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