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South Africa's watchdog to defend proposal on central bank's mandate - eNCA
July 6, 2017 / 10:34 AM / a month ago

South Africa's watchdog to defend proposal on central bank's mandate - eNCA

JOHANNESBURG, July 6 (Reuters) - South Africa's Public Protector Busisiwe Mkhwebane will oppose legal challenges to her recommendation that the central bank's mandate of maintaining currency and price stability be changed, saying her proposal was "misunderstood", eNCA television reported on Thursday.

The public watchdog's office also said Mkhwebane did not meddle in Parliament's independence by making the proposal to amend the South African Reserve Bank's mandate to focus on growth, eNCA said.

The central bank has filed a court challenge against Mkhwebane's proposal, while Finance Minister Malusi Gigaba and parliament have also opposed the recommendation. (Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia)

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