Gift an article

Kganyago critics call for deeper response to worst crisis in a century

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...
While the Reserve Bank may be reaching the end of its rate cutting cycle, there are calls for Governor Lesetja Kganyago to consider more aggressive action to support the economy.
While the Reserve Bank may be reaching the end of its rate cutting cycle, there are calls for Governor Lesetja Kganyago to consider more aggressive action to support the economy.
Gallo Images/Business Day/Freddy Mavunda

Reserve Bank Governor Lesetja Kganyago is due to announce the latest repo rate decision by the Monetary Policy Committee on Thursday. The decision would be an indication of the bank's commitment to support the economy in what is considered the worse crisis South Africa has faced in a century.

The tenth governor, as Finance Minister Tito Mboweni is often quick to remind everyone whenever the two share a podium at a press briefing, has consistently held firm that the central bank is not responsible for stimulating economic growth. Since taking the reins from Gill Marcus in 2014, Kganyago has on numerous occasions defended the bank's constitutional mandate to protect the currency.

But his "prudent" governorship that has never wavered from the bank's core function to achieve price stability has seen Kganyago come under fire for his rigidity. Over and above criticism of the bank's role in the economy that is yet again in recession, it has found itself dragged into political contestations within the governing party.

Read this for free
Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
17.96
-0.7%
Rand - Pound
19.94
-2.6%
Rand - Euro
17.60
-1.3%
Rand - Aus dollar
11.66
-0.2%
Rand - Yen
0.12
-0.4%
Gold
1,659.71
-0.0%
Silver
18.82
-0.4%
Palladium
2,201.50
+2.4%
Platinum
868.00
+0.2%
Brent Crude
89.32
+3.4%
Top 40
56,921
-0.9%
All Share
63,264
-0.9%
Resource 10
59,793
+3.2%
Industrial 25
76,769
-2.3%
Financial 15
13,707
-2.9%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders