Kganyago's reappointment will keep Reserve Bank independence in safe hands - unions

fin24.com

- fin24.com | 6 days ago

Lesetja Kganyago's reappointment as Reserve Bank governor will ensure its independence, several organisations have said.

National Treasury on Wednesday announced Kganyago's reappointment, and the appointment of two new deputy governors – Fundi Tshazibana and Rashad Cassim. Kganyago's reappointment will "strengthen" his hand to defend the bank from attacks on its independence, head of Solidarity's Research Institute Connie Mulder said.

Kganyago is no stranger to defending the bank's constitutional mandate to protect the value of the currency through inflation targeting – despite former Public Protector Busisiwe Mkhwebane and now more recently ANC NEC member Ace Magashule's utterances that it be changed to drive inclusive economic growth.

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