Reserve Bank’s mandate does indeed include balanced and sustainable growth
The exact wording of the relevant provision in the constitution is clear: to protect the value of the currency in the interest of balanced and sustainable economic growth
Human history does not make itself. It is made by people, and so are its repeats. This holds true for this week’s major battle of ideas regarding the SA Reserve Bank mandate.
In a way the ANC and its alliance partners, the SA Communist Part (SACP) and Cosatu, as well as other South Africans outside the alliance, were back to the week of the ANC’s 107th founding anniversary on January 8, especially after the launch of the ANC’s sixth general election manifesto in Durban on January 12. The characters on the stage this week, including the media, were also the same, vehemently repeating, and others reinforcing, what they said and did then...