Constitution mandates Sarb to protect the value of the rand in your pocket

The South African Reserve Bank (Sarb) is compelled by the Constitution to protect the value of the rand in the interest of balanced economic growth.

So said Sarb Governor Lesetja Kganyago on Tuesday.

Kganyago was briefing Parliament’s Standing Committee on Finance.

The Money Show’s Bruce Whitfield interviewed Reserve Bank Deputy Governor Kuben Naidoo.

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

There is always room for us to educate the South African public about what we do.

Kuben Naidoo, Sarb

There is broad support for the mandate and the independence of the central bank.

Kuben Naidoo, Sarb

We want a declaration from the Court that the Public Protector does not have the mandate to instruct Parliament to change the Constitution.

Kuben Naidoo, Sarb

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