S Africa Cen bank: Anti-graft watchdog is in­com­pe­tent

Kuwait Times - - BUSINESS -

South Africa’s cen­tral bank ac­cused the head of anti-graft watchdog of in­com­pe­tence on Fri­day, fol­low­ing her pro­posal to switch the tar­get of its mon­e­tary pol­icy from in­fla­tion and cur­rency sta­bil­ity to eco­nomic growth. Pub­lic Pro­tec­tor Bu­sisiwe Mkhwe­bane set off a po­lit­i­cal row and sparked a selling frenzy in the rand cur­rency last month when she said the Re­serve Bank cur­rent man­date fo­cuses on a “few com­mer­cial in­ter­ests”.

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