CAPE TOWN - Deputy Finance Minister David Masondo said on Thursday he did not intend to encroach on the South African Reserve Bank 's territory by commenting on monetary policy.
At a meeting of Parliament's finance committee on Thursday, Masondo was asked by the Democratic Alliance why he'd breached the protocol that sees Treasury traditionally steering clear of commenting on monetary policy, which is strictly the domain of the Reserve Bank. Hill-Lewis suggested the deputy finance minister’s comments might influence the Reserve Bank’s monetary policy committee when it met and suggested he withdraw them.
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