Interest rates | Godongwana will not be meeting with Reserve Bank

JOHANNESBURG - Finance Minister Enoch Godongwana says he is not talking to the Reserve Bank about ways to address the rising cost of living.

Talking to Bloomberg TV in India, he said the central bank, by the Constitution, is independent.

READ: Interest rates | ANC wants meeting with SARB

His remarks follow a call by the ANC's NEC for Godongwana to urgently speak to Governor Lesetja Kganyago, to consider other options rather than continuing with interest rate hikes.

The bank announces its latest rate decision this week,  after hiking rates 10 times consecutively since November 2021.