Photo: Jessica Rinaldi, Reuters

As the criticism of Public Protector Busisiwe Mkhwebane’s proposal to change the mandate of the South African Reserve Bank (Sarb) mounted, ratings agency S&P’s Global Ratings yesterday weighed in on the matter, warning against the meddling with the central bank’s independence. 

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Mkhwebane on Monday opened a can of worms when she said she would approach Parliament in order to change the mandate of Sarb, bringing to an end the institution’s inflation targeting role.

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