SA's Mboweni unconcerned about rand

The governor of the South African Reserve Bank, Tito Mboweni, is unperturbed by the level of the rand, but remains worried about rising debt levels and rampant consumer spending.

Speaking at an annual dinner in honour of South Africa's ambassadors and high commissioners in Pretoria on 30 November, Mboweni said a stable rand "at current levels" would help to stabilise inflation. He also said that the currency's recent weakness and higher interest rates should boost exports.

Mboweni made the argu