Mboweni at Stellenbosch: 'No room for ideology in financial crisis'

Posted by Johan Fourie on 2008-10-06

Tito Mboweni, governor of the South African Reserve Bank, gave his annual lecture on Friday at Stellenbosch University. More than 300 students and many faculty listened attentively as Prof Mboweni explained the causes and consequences of the current financial crisis. Responding to a question on whether the nationalisation of banks in Europe and America can be seen as a shift in ideology from free market principles, he said that central bank governors cannot afford to be ideological about these things. "We need to be pragmatic. Only when the storm subsides can we allow ourselves to sit back, and discuss the ideological implications of our decisions." Mboweni is an honorary professor in the Department of Economics and governor of the Reserve Bank since 1999.

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BER Weekly

17 February 2020
Last Thursday, President Ramaphosa delivered his State of the Nation address (Sona) to parliament. The statement gave recognition to the economic challenges SA currently face, especially regarding electricity supply. More emphasis was placed on the role of the private sector to help solve these challenges. Read more in the Current affairs section. On...

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BER Weekly

17 February 2020
Last Thursday, President Ramaphosa delivered his State of the Nation address (Sona) to parliament. The statement gave recognition to the economic challenges SA currently face, especially regarding electricity supply. More emphasis was placed on the role of the private sector to help solve these challenges. Read more in the Current affairs section. On...

Read the full issue