EDITORIAL: Guarding the stability of SA’s financial system
If the Reserve Bank didn’t do its safeguarding job, we’d know all about it
23 June 2025 - 05:00
It’s often forgotten that the Reserve Bank has two mandates: price stability and the stability of SA’s financial system.
Its first, monetary policy responsibility, tends to get all the attention. But its second, the financial stability mandate, is just as important, even if in some ways more complex. The outcomes may be far harder to judge than the bottom line for monetary policy — which is the inflation rate. But if the Bank didn’t do its job on safeguarding financial stability, we’d know all about it...
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