BUSINESS DAY TV: The SARB shot back at the Public Protector Busisiwe Mkhwebane and has decided to challenge her findings in court. That is, of course, on her recommendations that Parliament amend the Constitution regarding the powers of the Reserve Bank. She wants the SARB to promote economic growth rather than price stability and the currency. But the SARB says that the remedial action prescribed by the public protector falls outside her powers and is unlawful. Peter Attard Montalto, emerging markets economist at Nomura International joins us now on the line. So you’ve put out a note titled: "SARB independence live wire touched". And, yes, what that speaks to is the prescriptions might well be unlawful, but it does feed into a debate about the long-term role of the SARB. How rattled are you? PETER ATTARD MONTALTO: The real issue here is basically the public debate that has been so fraught this year on radical economic transformation — has it now added an element within it which was...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.