Is the Reserve Bank mandate fit for purpose?
Why does SA stick to and defend a mandate that has not helped monetary policies over the past quarter of a century?
10 June 2019 - 17:35
A brief review of some central bank histories shows that reserve bank mandates change with countries’ needs, as can be seen from the three cases below.
The Bank of England (BoE) was founded in 1685 primarily to fund the war effort against France but the BoE mandate has been changed over the ages to meet the government’s needs of the times (for instance funding the war effort during the First World War and to the dual mandate of price stability and full employment in these modern peace times)...
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now