Public Protector suggests constitution change so SARB can focus on growth

South Africa is already on a slippery macro slope, and the Public Protector’s recommendation that the constitution be amended so the SARB promotes growth and the well-being of citizens suggests there may be an even steeper slope ahead. Far easier than a change of the constitution is to change the mandate of the SARB, and this suggestion is probably putting a kite up in the sky to test the wind. Back in the days when I still had guest contributors on this blog, my friend Russell Lamberti actually outlined a century of SARB mission creep, in The Reserve Bank’s record. I will write more about this in my upcoming SA political economy note.