LETTER: Constitution defines Reserve Bank’s mandate
Bank is not independent because its main purpose, powers and functions are prescribed by the constitution
27 April 2021 - 23:51
Business Day editor Lukanyo Mnyanda’s conversation with SA Reserve Bank governor Lesetja Kganyago refers (“Why the Reserve Bank must be independent (https://www.businesslive.co.za/bd/economy/2021-04-23-watch-why-the-reserve-bank-must-be-independent/)”, April 23).
The Reserve Bank is not independent because it is an institution whose main purpose (mandate), powers and functions are prescribed by the constitution. According to section 223, the Bank is “the central bank of the republic and is regulated in terms of an act of parliament”...
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