The debate in the ANC on monetary policy has been misguided. The real issue is whether interest rates over the past few months have been set at the right level, says deputy finance minister David Masondo.

In comments that blur the traditional division between fiscal policy, which is the domain of the Treasury, and the SA Reserve Bank’s monetary policy, Masondo told Business Day that the repo rate was an effective tool, and there was no need to debate quantitative easing...

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