No president or finance minister can influence the SARB - Kganyago

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SARB governor Lesetja Kganyago. (File, Bloomberg)
SARB governor Lesetja Kganyago. (File, Bloomberg)

Johannesburg – No president or finance minister can influence the South African Reserve Bank (SARB) monetary policy committee (MPC), according to governor Lesetja Kganyago.

During a question and answer session following the repo rate announcement on Thursday, Kganyago said that the Reserve Bank was not pressured to introduce a rate cut.

The MPC was in favour of a rate cut of 25 basis points to 6.75 basis points, given the “improved inflation outlook and the deteriorated growth outlook,” said Kganyago.

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