EDITORIAL: With Reserve Bank appointments, Ramaphosa finally shows he is in charge

Lesetja Kganyago has had his detractors during his first term as Reserve Bank governor No. 10, as finance minister Tito Mboweni likes to refer to him.

The bonus is that we are spared months of yet more uncertainty and speculation about Kganyago’s position and his appointment, four months before his term was due to end, is a welcome show of decisiveness. So it is not a surprise that the Bank and Kganyago have found themselves in the middle of the factional battles within the ANC, culminating in that notorious statement by the party’s secretary-general,directing among other things that the Bank be ordered to consider a policy of “quantity easing”.

will go a long way to maintaining confidence that policy will continue to be driven by an independent assessment of economic conditions rather than orders from politicians.

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