Leave Reserve Bank alone! Governer responds to debates on central bank's mandate

The South African Reserve Bank Governor Lesetja Kganyago said on Wednesday that those arguing about the mandate of the bank should leave it alone.

Financial Mail deputy editor Sikonathi Mantshantsha says senior officials in the ANC, arguing over whether its mandate should be expanded effectively, want to print money to pay the debt they created in state-owned companies.

Read: Sikonathi Mantshantsha commends Ramaphosa for leaving out Dlamini and Mokonyane

Lesetja Kganyago says no it doesn't work that way. He says you focus on structural reform if you have a problem with unemployment and you leave the Reserve Bank alone.

Sikonathi Mantshantsha, Deputy editor - Financial Mail

He says its mandate is to maintain price stability and equitable growth and that mandate is enshrined in the Constitution.

Sikonathi Mantshantsha, Deputy editor - Financial Mail

We will defend the existence of the Reserve Bank if need be, says Lesetja Kganyago.

Sikonathi Mantshantsha, Deputy editor - Financial Mail

To hear the rest of the conversation, listen below:


This article first appeared on CapeTalk : Leave Reserve Bank alone! Governer responds to debates on central bank's mandate


Recommended

by NEWSROOM AI
Read More
'President Ramaphosa won Reserve Bank fight 6-0'

'President Ramaphosa won Reserve Bank fight 6-0'

Faction fighting will continue, but President Ramaphosa is stronger than he was 18 months ago, says political analyst JP Landman.

'The president's statement on Sarb made it clear that there is unity of purpose'

'The president's statement on Sarb made it clear that there is unity of purpose'

President Cyril Ramaphosa's economic advisor Trudi Makhaya defends the correspondence sent from that office the Reserve Bank.

What will nationalising the Reserve Bank achieve, asks Sarb's Rashad Cassim

What will nationalising the Reserve Bank achieve, asks Sarb's Rashad Cassim

Cassim is a member of the Monetary Policy Committee and he outlines the mandate of the Reserve Bank.

Analysts debate Reserve Bank mandate

Analysts debate Reserve Bank mandate

Pundits debate Sarb's role following a spat between ANC secretary-general Ace Magashule' and other party members.

ANC Sarb spat takes to Twitter: 'Is there policy uncertainty?' tweets Jacob Zuma

ANC Sarb spat takes to Twitter: 'Is there policy uncertainty?' tweets Jacob Zuma

Shortly after President Ramaphosa released a statement reaffirming the mandate of the reserve bank, others contradicted him.

ANC contradicts the ANC on economy while South Africans get poorer and poorer

ANC contradicts the ANC on economy while South Africans get poorer and poorer

The Money Show's Bruce Whitfield interviews Clement Manyathela (EWN) and Kevin Lings, Chief Economist at Stanlib Asset Management.

'Ramaphosa needs to stand up and be counted, help the ANC make bold decisions'

'Ramaphosa needs to stand up and be counted, help the ANC make bold decisions'

Former Gauteng premier Mbhazima Shilowa says the ANC leadership is too busy with public spats instead of focusing on the country.

Ace Magashule's ANC wants to 'explore' the printing of money

Ace Magashule's ANC wants to 'explore' the printing of money

Bruce Whitfield interviews Sarb Governor Lesetja Kganyago, Peter Attard Montalto (Intellidex) and Mpumelelo Mkhabela (Unisa).

'Magashule's stance on the Reserve Bank bluntly undermines Ramaphosa's new dawn'

'Magashule's stance on the Reserve Bank bluntly undermines Ramaphosa's new dawn'

Pan African Investment and Research Services CEO Iraj Abedian says South Africa doesn't need two centres of power.

Money Matters: A model to make university fees fall

Money Matters: A model to make university fees fall

Chartered Accountant Khaya Sithole describes the model he has been advising on to reduce university fees.

Popular articles
Meet the women who ensured that the Boks were in top form to bring home the cup

Meet the women who ensured that the Boks were in top form to bring home the cup

The all-female team of sports physiotherapists played a key role in the management team backing the Boks during the World Cup.

Allan Gray (81) passes away

Allan Gray (81) passes away

Allan Gray – founder of Africa’s largest privately-owned asset manager - has passed away after suffering a heart attack.

Caller defends Sho Madjozi's two-channels statement

Caller defends Sho Madjozi's two-channels statement

Eusebius McKaiser and callers debate issues from the Sho Madjozi to the Springboks.

Coffee shop owner bans laptops on weekends, accused of bullying

Coffee shop owner bans laptops on weekends, accused of bullying

Khabazela shares tweets and Facebook posts that have gone viral.

Granny rescues 13-year-old girl chased away from home by mom

Granny rescues 13-year-old girl chased away from home by mom

Khabazela shares tweets and Facebook posts that have gone viral.

BEE has not worked, says Capitec CEO

BEE has not worked, says Capitec CEO

Capitec CEO Gerrie Fourie explains the challenges the bank, named Top 100 Company of the Year, faces.

'Aarto Act could be used by Sanral to enforce e-toll compliance'

'Aarto Act could be used by Sanral to enforce e-toll compliance'

Justice Project SA chair Howard Dembovsky says the act presumes a motorist to be guilty until he or she proves they are innocent.

[VIDEO] Port Elizabeth gets an eyeful of Faf's famous SA-flag speedo

[VIDEO] Port Elizabeth gets an eyeful of Faf's famous SA-flag speedo

Faf de Klerk threatened to upstage his captain when he showed off his patriotic 'broeks' in PE on the Springbok victory tour.