Reserve Bank Governor to step down

Reserve Bank Governor Gill Marcus announced today that she would not be available to stand for another term when her current term comes to an end on 8 November. The announcement was made as part of the South African Reserve Bank's Monetary Policy Committee (MPC) meeting, which also decided to keep the interest rate unchanged at 5,75 percent.

It is not yet known who will replace her.

We wish to thank the Governor for her excellent service and leadership. She has steered the Bank during the difficult periods of the global economic and financial recession and ensured the achievement and maintenance of stability. We value the Governor's contribution immensely and wish her all the best in her future endeavours

President Jacob Zuma
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