LUKANYO MNYANDA: Coronavirus fallout evokes shades of rand’s crash in early 2000s
Bets on a Reserve Bank rate cut are increasing amid a clamour for officials to act
08 March 2020 - 19:34
The comments were made about 20 years ago after one of SA’s currency shocks in the early 2000s.
While memory might be subject to a certain margin of error, I don’t think I will be betraying the confidence of finance minister Tito Mboweni by recalling it as being said in a public setting. Then governor of the Reserve Bank, Mboweni told a story about how in the midst of those scary days in which the rand fell through the floor, a call or meeting was arranged with Trevor Manuel, the man who held his current position at the time, so they could discuss what to do about the mayhem in currency markets...
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