ANC retracts statement on monetary policy
The African National Congress earlier called on the central bank to help lift economic growth and help the poor, an hour after interest rates were left on hold.
JOHANNESBURG - South Africa’s ruling party on Thursday retracted a statement on the South African Reserve Bank’s (Sarb) policy, saying it was “unfortunately issued without requisite consultation”.
“The ANC respects the independence of the Sarb,” it said in a statement.
Adding that: "The chair of the economic transformation committee is handling all policy matters related to this issue."
The head of the ANC's economic transformation committee Enoch Godongwana says the retracted statement was an unprecedented slip of protocol.
Godongwana says the statement wasn't authorised by any member of leadership.
“There are protocols in terms of dealing with these matters. We have never, in the history of the ANC, issued a statement when the monetary policy committee is sitting because we respect the independence of the bank.”