Reserve Bank hits back at ANC claims that its to blame for tanking the rand

[BusinessTech]

Reserve Bank hits back at ANC claims that its to blame for tanking the rand

The South African Reserve Bank has reaffirmed its independence and constitutional mandate in the wake of comments from the ANC that it's to blame for the rand's volatility, and may be influenced by its private shareholders in executing anti-Gupta policies.

 

[Albert Broco]

Reserve Bank hits back at ANC claims that its to blame for tanking the rand

The South African Reserve Bank has reaffirmed its independence and constitutional mandate in the wake of comments from the ANC that it's to blame for the rand's volatility, and may be influenced by its private shareholders in executing anti-Gupta policies.

Hence the reason why the ANC recently started recommending changes to the banking act, so that banking licenses are controlled by the finance minister instead of the Reserve Bank.

The ANC must fall!