South Africa’s central bank has appointed economist Franz Ruch as an adviser to the governors and seventh member of its Monetary Policy Committee (MPC), it said on Thursday.
Ruch joins from the World Bank, where he served as a senior economist and contributed to research and publications, including the institution’s Global Economic Prospects report, the South African Reserve Bank (SARB) said in a statement.
He previously worked in the SARB’s economic research department, where he helped develop economic models and contributed to the bank’s Monetary Policy Review.
At last week’s interest rate announcement, the MPC raised its policy rate for the second time this year, saying the Iran war had created “large and sustained” price shocks and tighter monetary policy was needed.
The bank’s next policy announcement is due in November.
- South Africa's central bank appointed economist Franz Ruch as an adviser to the governors and the seventh member of its Monetary Policy Committee (MPC).
- Franz Ruch previously worked as a senior economist at the World Bank and contributed to the Global Economic Prospects report.
- He formerly worked in the South African Reserve Bank's economic research department, aiding in economic model development and the Monetary Policy Review.
- The MPC raised its policy interest rate for the second time this year in response to price shocks caused by the Iran war.
- The South African Reserve Bank's next policy interest rate announcement is scheduled for November.
