Why South Africa’s Ruling ANC Party is Taking Aim at Central Bank

South Africa’s ruling African National Congress wants the central bank to play a more active role in fostering employment and economic growth, and is debating whether its inflation-fighting mandate should be expanded. That prospect has rattled investors, with the rand slumping against the dollar after party Chairman Gwede Mantashe said a change had been agreed — an assertion that other top officials later downplayed. The South African Reserve Bank has said repeatedly that bolstering economic out

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