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[LISTEN] Sarb independence more important than nationalisation debate - experts

18 March 2019 2:30 PM
Tags:
Sarb
Reserve bank
economist
Nationalise Sarb
mandate

Economists Annabel Bishop and Duma Gqubule both believe that nationalising the SA Reserve Bank won't have any substantial impact.

Should South Africa nationalise the Reserve Bank?

Economists Annabel Bishop and Duma Gqubule both believe that nationalising the SA Reserve Bank (Sarb) will not have any substantial impact.

Read: What exactly does the Reserve Bank do - and is it enough? An expert explains

However, the experts agree that the mandate and independence of Sarb is of more critical importance than the question of nationalisation.

Bishop explains that poor policy and political interference can have a detrimental effect on the economy, the currency and hit the poorest of South Africans the hardest.

Independence is to allow the governors of the Reserve Bank to put their job in line with how central bankers globally run their banks.

Annabel Bishop, Chief economist - Investec

You don't want a situation where there is political government maintenance that investors lose confidence in the country, resulting in the collapse of the currency.

Annabel Bishop, Chief economist - Investec

Gqubule says there should be a big distinction between the political and operational independence of the Reserve Bank and challenges the inflation-targeting mandate of Sarb.

Listen to the discussion on The Eusebius McKaiser Show:


18 March 2019 2:30 PM
Tags:
Sarb
Reserve bank
economist
Nationalise Sarb
mandate

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