South African Reserve Bank governor, Lesetja Kganyago has described the arguments regarding the mandate of the central bank as ‘noise’.
“They are conflating ownership with the mandate of the bank. The mandate of the bank is spelt out in the Constitution of the Republic. Also, they confuse it with independence and that independence is also spelt out in the constitution,” he said. In a series of tweets, Mboweni slammed Magshule’s statements saying that the government would be the one to set the mandate for the reserve bank.
“I don’t think that the Constitution has to be changed for the reserve bank to have a view on growth,” he says.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kganyago, Mboweni back the SARB’s independence and monetary policy stance | Business | M&GIn a joint statement, Finance Minister Tito Mboweni and Reserve Bank governor Lesetja Kganyago, gave assurances that the finance ministry backs the independence of the central bank. LynleyDonnelly reports.
Source: mailandguardian - 🏆 2. / 92 Read more »
CCMA cases pile up with new law | Business | M&G🔒 The CCMA has recieved 1 073 minimum wage referrals for the first half of this year pushing its overall caseload to over 100 000 complaints. Its work also includes 8 792 cases involving basic conditions of employment.
Source: mailandguardian - 🏆 2. / 92 Read more »
BUSINESS MAVERICK ANALYSIS: New players on the banking block no threat to big five – yetAbsa, FNB, Nedbank, Standard Bank and Capitec will dominate the banking industry for at least another decade, despite the entrance of three new banks, according to Kuben Naidoo, the deputy governor of the SA Reserve Bank.
Source: dailymaverick - 🏆 3. / 84 Read more »
Mboweni, Kganyago – ‘anchors’ of the economy – are ‘on the same page’Tito Mboweni and Lesetja Kganyago – ‘anchors’ of the economy – are ‘on the same page’. They stress the importance of the Reserve Bank's independence and also agree on who should lead it. Two sellouts
Source: City_Press - 🏆 7. / 72 Read more »