Bloomberg

Why South Africa’s Central Bank Is Under Fire: QuickTake Q&A

Written by Angela

South Africa’s central bank is under fire by the nation’s ruling party. The anti-graft ombudsman told parliament to start the process of changing the constitution to force the Reserve Bank to focus on the “socioeconomic well-being of the citizens” rather than on inflation. Many investors took this as a threat to the bank’s independence. Two weeks later the ruling African National Congress proposed that the bank, which has been owned by private shareholders since its founding in 1921, should beco

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