Sarb points to pitfalls of exchange rate rigidity
PRETORIA – The Greek debt crisis has demonstrated the difficulties caused when central banks are unable to manipulate the exchange rate, Brian Kahn, an adviser to Gill Marcus, the governor of the South African Reserve Bank (Sarb), said on Thursday, May 13.
"The Greek example has shown the difficulty of a fixed exchange rate scenario," Kahn told the post-policy media conference, in response to a question on whether the Sarb had the power to appease trade unions and banks in South Africa that have
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