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

20 November 2017
Last week, retail and wholesale data was released for the domestic economy. The September growth figures completed the picture for the third quarter. In this regard, the growth in retail sales should support GDP growth in Q3, while a significant contraction in wholesale sales will have the opposite effect. Internationally, economic growth was reported...

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Upcoming Seminars

No seminars are currently listed. Please check back soon.
 
More...

BER Weekly

20 November 2017
Last week, retail and wholesale data was released for the domestic economy. The September growth figures completed the picture for the third quarter. In this regard, the growth in retail sales should support GDP growth in Q3, while a significant contraction in wholesale sales will have the opposite effect. Internationally, economic growth was reported...

Read the full issue