Without reserve
The High Court in Pretoria will this week hear the Reserve Bank’s application to set aside the public protector’s “remedial action” that its mandate be changed to accommodate the wellbeing of all citizens. Bank governor Lesetja Kganyago could not have been clearer on where he stands when he told the bank’s AGM on Friday: “Price stability . . . is a core function of central banks. I know of no central bank that does not have this mandate.”