RBZ: MPC Dissolved, Mthuli Ncube To Appoint Members
3 years agoFri, 19 Feb 2021 17:01:12 GMT
The Reserve Bank of Zimbabwe (RBZ) has announced that its Monetary Policy Committee (MPC) was dissolved at the end of January adding that Finance Minister Mthuli Ncube is set to appoint new members soon.
The central bank posted on Twitter suggesting that the dissolution of the committee was influenced by the appointment of most of its members to various entities. Read the tweet:
RBZ wishes to advise that the Monetary Policy Committee (MPC) was dissolved with effect from 31 January 2021 as a result of appointment of most of its members to various entities and which appointments were deemed to be in conflict with the operations of the Bank and the MPC.The Minister of Finance and Economic Development will appoint new MPC members soon.
The report comes amid reports that former MDC legislator, Eddie Cross left the MPC over “fatigue and frustration” after the Ministry of Finance allegedly tried to gaggle him.
Cross had on several occasions disclosed the central bank’s plans well before the bank was ready to communicate its decisions officially.
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