How the law restricts David Masondo’s idea of Reserve Bank purchases
The extent to which the Bank can buy government securities directly from the Treasury is limited
05 May 2020 - 16:12
The Reserve Bank exists in terms of legislation. It was originally established in terms of the Currency and Banking Act of 1920, and now exists in terms of the SA Reserve Bank Act of 1989.
This legislative provision for the existence of SA’s central bank is confirmed in the constitution, which states in section 223 that the “SA Reserve Bank is the central bank of the republic and is regulated in terms of an act of parliament”...
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