SARB Independence Important says Deputy Governor

An independent central bank acts as an important check on government-controlled fiscal policy, South African Reserve Bank (SARB) Deputy Governor Kuben Naidoo has said.

Earlier this year, the governing African National Congress (ANC) party was embroiled in a public row over the role of the central bank, with some ANC officials calling for the bank to do more to stimulate economic growth and job creation.

Do our leaders have a shared and coherent vision for the country? I'm asking this in light of frequency in public squabbles between our leadership. It was SG ,Godongwana over ownership & mandate of the SARB , now it is the ANC GP and Mboweni.
— Hlumza Mayibuye (@HlumzaMayibuye) July 9, 2019

“The central bank places a check on that (government being in charge of fiscal policy). It places a constraint and limitation, Reuters quoted Naidoo as saying.