LETTER: Reserve Bank and Treasury must break with old neoliberal dogma
It is urgent that they spend now to make the structural changes that are long overdue
08 June 2020 - 14:19
We welcome, finally, a written response to critiques of SA Reserve Bank monetary policy, specifically, Reserve Bank research head Chris Loewald’s “Depression risk a bad reason to jettison macroeconomic policy frameworks (https://www.businesslive.co.za/bd/opinion/2020-05-31-depression-risk-a-bad-reason-to-jettison-macroeconomic-policy-frameworks/).” (Business Day, May 31).
But it is precisely because the risk of a depression is so high (a more than 10% GDP crash) that we must see change in those frameworks...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.