Nhlanhla Nene (ex Finance Minister) on Public Protector’s attack on Reserve Bank

Public Protector Busisiwe Mkhwebane has ordered Parliament to amend the Constitution to change the mandate of the Reserve Bank.

This would, effectively, put an end to inflation targeting.

Section 224 of the Constitution states:

The primary object of the Reserve Bank is to protect the value of the currency in the interests of balanced and sustainable economic growth in the republic.

Mkhwebane wants this changed as follows:

The primary object of the Reserve Bank is to promote balanced and sustainable economic growth in the republic while ensuring that socio-economic wellbeing of the citizens is protected.

The Money Show’s Bruce Whitfield interviewed former Finance Minister Nhlanhla Nene.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Independence [of monetary policy] is critical.

Nhlanhla Nene

Runaway inflation will hurt not just the economy but also the poorest citizens.

Nhlanhla Nene

Investors are always sceptical, even without ‘developments’.

Nhlanhla Nene

I’m watching from a distance. I’ve got my hands full…

Nhlanhla Nene

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The Money Show’s Bruce Whitfield interviews Mahlatsi Mahlase of the South African National Editors Forum (Sanef).

Solutionist Thinking: In Conversation with FirstRand's founders

Solutionist Thinking: In Conversation with FirstRand's founders

In the bonus episode of Solutionist Thinking with RMB, Bruce Whitfield speaks the founders of FirstRand, GT Ferreira, Laurie Dippenaar and Paul Harris.

‘The South African Reserve Bank has been a success’

‘The South African Reserve Bank has been a success’

The Money Show’s Bruce Whitfield interviews Sanlam Investment Management Portfolio Manager Patrice Rassou.

Public protector orders change of Constitution (to end inflation targeting)

Public protector orders change of Constitution (to end inflation targeting)

The Money Show’s Bruce Whitfield interviews Investec Asset Management Economist Nazmeera Moola.

Popular articles
How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

ANC Tshwane gives mayor ultimatum on non-compliant buildings

ANC Tshwane gives mayor ultimatum on non-compliant buildings

ANC in Tshwane has given the Executive mayor Solly Msimanga 48 hours to produce occupation certificates for three buildings.

[LISTEN] 'Lesufi has been attacking Afrikaans schools since 2014'

[LISTEN] 'Lesufi has been attacking Afrikaans schools since 2014'

The Freedom Front Plus says the Gauteng Education MEC has flouted school language policies and is destroying Afrikaans.

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

International law enforcement expert and former Drug Unit Commander Lobo das Neves says ruling opens a different can of worms.

Standard Bank's Ian Sinton implicates two cabinet ministers in state capture

Standard Bank's Ian Sinton implicates two cabinet ministers in state capture

Standard Bank’s head of compliance Ian Sinton told the commission two ministers bullied the bank not to close Gupta's accounts.