SARB's Mboweni reappointed for new term

Tito Mboweni, the South African Reserve Bank governor, says he will aim for lower inflation during his next term in office. Mboweni's contract was renewed for a further five years by President Thabo Mbeki on Friday 23 July.

Mboweni told reporters in Johannesburg on Monday he would continue with policies introduced in his first five years in office.

Mboweni said the departure of deputy governor Gill Marcus would not affect monetary policy or bank supervision. Marcus's contract ran out at the end