CHRIS GILMOUR: Protect the precious independence of our central bank
ETM Analytics chief strategist warns of danger of government getting too much control over Reserve Bank
Almost every economic presentation I attend emphasises the importance of SA Reserve Bank independence and cautions how it is at risk. Russell Lamberti, chief strategist at investment advisory firm ETM Analytics, talking at a Free Market Foundation-Fraser Institute event, is no different.
Lamberti considers we are in the midst of what he calls the “SARB wars”, tussling over who controls the bank and its valuable reserves, who gets to say how it is run, what institutional arrangements should govern its management, and the risks of it being nationalised.