The Democratic Alliance has welcomed the announcement by the Reserve Bank governor, Tito Mboweni, that he will make himself available to serve another term of office if asked to.

According to Dion George, deputy finance spokesperson, the party would welcome the continuation of Mboweni's term of office in the new dispensation. "He has had an excellent record at the central bank," George said. "In particular, he has maintained the independence of the bank in a commendable fashion. The Reserve Bank has throughout Mboweni's term created a stable, certain monetary policy environment, which to some extent has boosted investors' confidence in the economy."

Key policy decisions such as the appointment of the central bank governor play a crucial role in boosting investor confidence, George said. "It would be tragic if the Reserve Bank's hard-won credibility was compromised in the new ANC government," he added, "by Cosatu's concerted political strategy to increase its own influence within the tripartite alliance by undermining monetary policy with its misplaced ideas on inflation targeting."

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