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South Africa central bank hits back against Public Protector
South Africa's central bank said on Tuesday a recommendation by the Public Protector to change the constitution to promote growth was unlawful and would hit the regulator's independence by stripping it of its key aim to protect the currency. The Reserve Bank has consulted its legal team and has been advised that the remedial action prescribed by the Public Protector falls outside her powers and is unlawful, it said in a statement. It would take urgent legal action, it added.
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