June 5, 2019 / 9:07 AM / 13 days ago

South Africa c.bank governor says primary mandate is price stability

JOHANNESBURG, June 5 (Reuters) - The primary mandate of the South African central bank is price stability, central bank Governor Lesetja Kganyago said on Wednesday, as senior officials argued over whether its mandate should be expanded.

“The constitution outlines the primary mandate of the Reserve Bank, being to protect the value of the currency in the interests of balanced and sustainable growth,” Kganyago said.

“The independence and competence of the Reserve Bank all come from the constitution.”. (Reporting by Mfuneko Toyana Writing by Alexander Winning; editing by John Stonestreet)

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