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.