The SARB’s Monetary Policy Committee (MPC) conducts monetary policy within a flexible inflation-targeting framework


The MPC consists of up to seven members from the SARB: the Governor, the three deputy governors and selected senior officials appointed by the Governor. The Governor chairs the MPC meetings.


Mr E L (Lesetja) Kganyago

Dr R (Rashad) Cassim
Deputy Governor

Ms Nomfundo (Fundi) Tshazibana
Deputy Governor and CEO of the Prudential Authority

Dr Christopher Loewald

Dr M (Mampho) Modise
Deputy Governor

Dr Christopher Loewald

Dr Christopher Loewald
Head: Economic Research Department

Dr David Fowkes
Adviser to the Governors

Click here for the Monetary Policy Committee members' biographies.


MPC statements

Statements on the SARB’s monetary policy stance are released after each MPC meeting.


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