Mboweni said in a statement late on Tuesday that government determines the mandate of the Reserve Bank, implying that the political party's NEC has little say in that regard.
Finance Minister, Tito Mboweni, has denied any concrete plans to expand the Reserve Bank’s mandate, despite media being told that that was the case during a briefing of the party’s National Executive Committee African National Congress Secretary-General Ace Magashule on Tuesday said the governing party’s NEC resolved at its latest Lekgotla that the Reserve Bank’s mandate should be expanded.
However, Mboweni said in a statement late on Tuesday that government determines the mandate of the Reserve Bank, implying that the political party’s NEC has little say in that regard.Stats SA on Tuesday revealed that GDP contracted by 3.2% causing the rand to weaken by around 1% against a basket of major currencies.
The ANC’s Pule Mabe says, “Those are discussions that are ongoing in the organisation as part of exploring the different options. It is in our interest that the central bank is stable, it continues to discharge its own mandate and makes a positive contribution on the kind of growth that we want to see in the country. At the right time when we have clearly formulated a view on how all of these things are going to be approached, we’ll be able to communicate and convey our message.
It seems that some members of the ANC have lost their way SabcNews and moral compass and want 2 wreck the economy Mr Minster
“Concrete” - if I was an investor I’d go somewhere else until there is certainty - concrete certainty😜. The ANC can’t manage anything and the wheels are coming off fast now
Tito and Godongwane are working for someone else and not the people of SA
When they contradict you like this ... you may as well kiss your job good by
Magashule is implementing Zuma strategies and plans
I think it will be a call from us as branches MYANC to make sure tito_mboweni PravinGordhan are being removed from thier deployment we can't have individuals who are objecting or acting out of Mandate Nasrec. Its clear they are not serving our people. We need RET, ANCYLhq
So which is it It looks like there's a misalignment between the minister and the NEC.
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