Sarb’s head of financial stability fears new powers may cause conflict

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New powers of macro-prudential policy granted to the South African Reserve Bank (Sarb) could cause problems for monetary policy and even threaten the Sarb's independence, according to Hendrik Nel, the head of the financial stability unit at the central bank.

South Africa is currently moving towards a 'twin peaks' regulatory structure similar to that in the UK, with a prudential regulator overseen by the central bank and a conduct regulator operating autonomously. The Sarb will take on both a

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