Public Protector Busisiwe Mkhwebane doesn't seem to understand the mandate of the Reserve Bank, says presenter Eusebius McKaiser.
McKaiser says it is not Mkhwebane's place to try change the Reserve Bank’s monetary policy and adds that her legal and economic reasoning is weak.
On Monday, Mkhwebane said that Parliament must change the Constitution to amend the mandate of the Reserve Bank away from protecting the value of the currency.
He adds that the merits of the Reserve Bank mandate is secondary to the question of whether it is in her powers to make the Constitutional changes.
There are very bad economic reasons behind her proposal.— Eusebius McKaiser, CapeTalk and 702 presenter
Not only is there no legal basis for the @PublicProtector to order the constitution be amended, the recommendation is actually anti-poor...— Eusebius McKaiser (@Eusebius) June 20, 2017
I'm not conceding that the Reserve Bank mandate is wrong or needs expanding, I think she doesn't understand the mandate currently.— Eusebius McKaiser, CapeTalk and 702 presenter
The mandate of the Reserve Bank is already quite expansive... There are good economic reasons for the current mandate.— Eusebius McKaiser, CapeTalk and 702 presenter
At the same time, the Reserve Bank is set to challenge the Public Protector’s recommendation that its mandate be adjusted in court.
The ANC has told Eyewitness News that the Public Protector has overreached her power.
On Tuesday, Mkhwebane joined McKaiser for a lengthy interview following the release of her report on Absa.
Take a listen to his perspective and callers share their opinion:
Listen for the full length interview with Public Protector BusisiweMkhwebane:
Below are some Twitter responses, search #702PublicProtector for more:
So her final word is that "let's not get too much into the law.." BUT🤔🤔🤔 https://t.co/qHsu9Qm6oz— Redi Tlhabi (@RediTlhabi) June 20, 2017
She failed to tell @Eusebius where she gets the powers in law to order changes to the Constitution.— Palesa Morudu (@palesa_morudu) June 20, 2017
I am asking a narrow legal question (what is legal basis of SARB remedial action) -@Eusebius to PP on 702— Sure Kamhunga (@sure_kamhunga) June 20, 2017
And the response is all over