Reserve Bank takes jobs and growth into account, says Kuben Naidoo

The Reserve Bank’s Kuben Naidoo. Picture: FREDDY MAVUNDA

The Reserve Bank’s remaining deputy governor, Kuben Naidoo, has defended its independence and insisted that policymakers take growth and employment levels into account when setting interest rates. He was speaking on Tuesday, a week before a monetary policy committee meeting that might result in the first interest-rate cut since March 2018. Naidoo said that the Bank, which came under fire for tightening policy late in 2018, even as the economy struggled to emerge from recession, took a broader view than just on inflation, and this was for"sound and theoretical" reasons.

What growth ? Negative growth ? Economists have said if you take combined financials of all SA businesses they are running at a loss ?

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LUKANYO MNYANDA: David Masondo’s Reserve Bank faux pas comes at a bad timeEvents in the US and Turkey show why comments on the level of SA’s interest rates were misguided
Source: BDliveSA - 🏆 12. / 63 Read more »

DUMA GQUBULE: Reserve Bank mandate must change to tackle recessions and joblessnessGovernor Lesetja Kganyago patronises South Africans when he says people are conflating issues
Source: BDliveSA - 🏆 12. / 63 Read more »

PIC inquiry: Matjila denies allegations of R2.5m loan from VBS Mutual BankThe inquiry, which is expected to wrap up this month, has heard evidence from about 70 witnesses.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Beleaguered Danske Bank cuts outlook for profitWith negative interest rates and a $230bn money-laundering scandal, the Danish bank is facing gloomy times
Source: BDliveSA - 🏆 12. / 63 Read more »

No evidence Dan Matjila took irregular loan from VBS BankThe inquiry into the PIC has heard from several witnesses saying Matjila played a key role in approving questionable deals, which he denies
Source: BDliveSA - 🏆 12. / 63 Read more »

Deutsche Bank shares still sliding on doubts about turnaroundAnalysts say new CEO is right to slash trading desks but question if he can make the plan work amid low interest rates and inroads by US banks
Source: BDliveSA - 🏆 12. / 63 Read more »