SARB's Mboweni advocates common sense

Financial and risk modelling should continue to play a role in future but it should be better balanced by basic business common sense, said Tito Mboweni, the governor of the South African Reserve Bank.

Mboweni said that common sense should challenge the underlying assumptions of models and attempt to understand their inherent limitations and constraints. He said that financial world had been taken over by mathematicians, statisticians, engineers and scientists who made breakthroughs in the

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