COSATU LAUDS MBOWENI

THE Congress of SA Trade Unions on Tuesday welcomed plans by South Africa’s new Reserve Bank Governor Tito Mboweni to consult organised labour and business on monetary policy. Mboweni announced his plans on Tuesday in his first address to the Bank’s annual general meeting since taking office earlier this month. Cosatu said Mboweni’s pledge to form an informal monetary policy forum “signalled a remarkable departure from the rigidity of his predecessors who listened only to business at the exclusion of organised labour”. The union federation wants clarity on the relation between the new council and the existing monetary policy chamber of the National Economic Development and Labour Council.