Suggestions by the public protector of South Africa on altering the South African Reserve Bank’s (Sarb’s) mandate represent a “grave threat” to the economy, according to an open letter signed by a group of academics and economists.

Entitled ‘Hands off the Sarb’, the letter scolds Busisiwe Mkhwebane for comments made in a report a fortnight ago. The public protector urged authorities to remove the central bank’s mandate to protect the value of the currency and add a new target based on the