SA Reserve Bank mourns loss of its former governor
The South African Reserve Bank says the passing of its former chief is a great loss to the global economic community.
Former Reserve Bank Governor Tito Mboweni died in hospital on Saturday night in Johannesburg at the age of 65.
It was after a short illness.
Mboweni was the Reserve Bank's 8th Governor.
In 1999, Mboweni made history becoming South Africa's first black governor a role he served for a decade.
READ: Former SARB governor, finance minister Tito Mboweni dies
In a statement released on his passing, the Reserve Bank says Mboweni played a critical role in driving economic transformation and social change.
It states that it was during Mboweni's tenure that live public announcements of the Monetary Policy Committee's decision were introduced as well as forums for ordinary people to engage directly with SARB officials.
Mboweni also implemented South Africa’s inflation targeting policy, in efforts to reduce inflation to within the target of 3−6%.
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