President Cyril Ramaphosa and Deputy Minister of Finance, David Masondo, have met with the board of the South African Reserve Bank (SARB) to discuss vacancies in the executive leadership of the central bank.
The issue of policy consensus is critical to South Africa’s developmental trajectory. That is the view of the United Nations Development Programme’s newly-appointed Resident Representative to South Africa, Economist Dr Ayodele Odusola, who assumes the role later in June.
Economists say markets will rely on how the South African Reserve Bank and the Ministry of Finance respond to the on-going debate on the mandate of the Reserve Bank.
The African National Congress (ANC)’s economic transformation head, Enoch Godongwana, says the ruling party has not taken a decision to expand the mandate of the South African Reserve Bank.
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 Lekgotla.