Marcus steps down as SARB governor
Marcus says she will step down on 8 November at the end of her 5-year term.
JOHANNESBURG - South African Reserve Bank Governor Gill Marcus said on Thursday she would be stepping down on 8 November at the end of her five-year term.
"This is my last MPC. I have advised the president some time ago that I would not be available for renewal," Marcus, who has guided South Africa through a turbulent five years since the global financial crisis, told a news conference at the end of a Monetary Policy Committee (MPC) meeting.
Marcus said she's quite comfortable with her decision to step down.
The South African Chamber of Commerce and Industry's Neren Rau said Marcus has made an extraordinary contribution to the stability of the South African economy.
Stanlib Chief Economist Kevin Ling said Marcus has guided the bank through very difficult times
"I think it is an unfortunate announcement. I think Gill Marcus has done a superb job in terms of how she has managed monetary policy in South Africa."