BHEKI NTSHALINTSHALI: In thrall to big capital, the Reserve Bank is failing the people of SA
The Bank should be independent of finance capital, which exerts an inordinate amount of influence on economic activity
The debate over the mandate and role of the Reserve Bank continues to polarise opinion in SA, but it is a necessary debate that should move beyond the corridors of power to include workers and citizens, the real owners of the Bank.
Recently a team of economic thinkers and experts responded to Chris Loewald, the Reserve Bank’s head of research, who argued that the country need not jettison its macroeconomic framework to respond to the current economic crisis. Cosatu has been arguing for a long time that we need to take bold measures to deal with this crisis, and that the status quo needs to be reviewed and adjusted accordingly...
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