The Zimbabwe National Chamber of Commerce (ZNCC) says it is not the job of President Emmerson Dambudzo Mnangagwa to make monetary policy announcements.
President Mnangagwa recently made monetary policy announcements with far reaching implications in an effort to arrest the ever rising inflation.
Mnangagwa also suspended the banks’ lending role, a move which analysts say would bring undesired effects.
Meanwbile, though ZNCC commended President Mnangagwa for the measures he took, says it is not his job to do monetary policy announcements.
ZNCC has added that the head of state should not be making the monetary policy pronouncements himself, saying there are institutions mandated to do so.
“By announcing monetary policy measures himself, President Mnangagwa is rendering the Reserve Bank redundant,” says ZNCC.