Minister Tito Mboweni rubbishes Ace Magashule's Reserve Bank claims

Minister Tito Mboweni rubbishes Ace Magashule's Reserve Bank claims

Minister Tito Mboweni has rubbished a statement made by Ace Magashule, claiming that the mandate of the Reserve Bank is set to be 'expanded'. The Finance Minister insists the the 'obsession' over the SARB must come to an end.

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Tito Mboweni has blasted claims put forward by Secretary-General Ace Magashule that the Reserve Bank's mandate is set to be expanded.

The finance minister says it is 'painful' to see people making such 'reckless statements', commenting that:

"Nobody is talking about changing the mandate of the Reserve Bank. This is clearly stipulated in the constitution. I don't understand why the obsession about the central bank all the time. Why say things that destabilise the market?"

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In fact, Mboweni claims that the comments put forward by the ANC official have attracted some prying questions from international media:

"I am being asked what went wrong at the weekend, what were you people smoking?"

According to TimesLIVE, Magashule had announced during a media briefing earlier this week that the ruling party would be instructing government to consider forming a task team to explore the matter:

"The ANC NEC lekgotla agreed to expand the mandate of the SA Reserve Bank beyond price stability to include growth and employment."

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