Nationalisation is expensive and won't solve our problems - SARB

- | 6 months ago

Officials from the South African Reserve Bank have called the debate surrounding nationalising the Reserve Bank or changing its mandate "simplistic" and said shifting it to complete state ownership would be a costly endeavour with little benefit.

The Reserve Bank officials were speaking in Cape Town on Thursday evening during that city's leg of the Reserve Bank's monetary policy forum. This comes as the debate on expanding the mandate of the Reserve Bank as well as nationalising the central bank heated up during the course of this week.

The African National Congress resolved in its 2017 national conference to buy out Reserve Bank shareholders to put the bank under state control.

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