JOHANNESBURG, Oct 1 – The South African Reserve Bank (SARB) has appointed economist Franz Ruch as an adviser to its governors and the seventh member of its Monetary Policy Committee (MPC), strengthening its monetary policy team with an economist who has previously worked at the central bank.
Ruch joins the SARB 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.
Before his time at the World Bank, Ruch worked in the SARB’s economic research department, where he contributed to the development of economic models and research published through the bank’s Monetary Policy Review.
His appointment comes as the South African central bank faces renewed inflation risks and heightened uncertainty in the global economic environment.
At its latest monetary policy meeting, the MPC raised the policy rate by 25 basis points to 7.25%, marking its second rate increase of the year.
The central bank said geopolitical developments, including the war involving Iran, had generated “large and sustained” price shocks, reinforcing the need for tighter monetary policy.
Ruch’s return to the SARB adds experience in macroeconomic research and policy analysis as the institution assesses inflation, global commodity-price pressures and their implications for South Africa’s monetary policy outlook.
