<\/p>\n
The South African Reserve Bank named Konstantin Makrelov as a new member of its interest-rate-setting committee to replace Chris Loewald, who retired in March.<\/p>\n
Makrelov will take over as chief economist at the bank and become a member of its Financial Stability Committee, the central bank said in a statement emailed from the capital, Pretoria Monday. The appointment is effective immediately, it said.<\/p>\n
The appointment brings to six the number of MPC members and comes before the central bank delivers its next interest-rate decision on May 28. It kept its key rate at 6.75% at its previous meeting to give policymakers time to assess the impact of the US-Israel war with Iran on the inflation outlook.<\/p>\n
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Makrelov joined the central bank in November 2018 before being appointed as divisional head for economic and climate change-related research in January 2024.<\/p>\n
\u201cIn these roles, he helped shape the Sarb\u2019s economic analysis and research agenda, contributing to monetary and macroeconomic policy as well as longer-term structural issues affecting the South African economy.<\/p>\n
Before joining the bank, he spent 12 years at the National Treasury, where he worked on fiscal forecasting and the assessment of major government policies, it said.<\/p>\n
Makrelov holds a PhD from the School of Oriental and African Studies at the University of London, a Master\u2019s degree in economic science, and a Bachelor of Commerce in Economics degree from the University of the Witwatersrand.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Sarb #names #Makrelov #sixth #MPC #member<\/p>\n","protected":false},"excerpt":{"rendered":"
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