In a strongly worded statement, ANC spokesperson Pule Mabe expressed concern over Mboweni’s public posture on the bank, especially as he held a position in the economic cluster.

“It is our view that comrade Tito should act with care and be cautious at all times on matters of policy given his position as the minister of finance, including subjecting himself to the overall communications protocols of the African National Congress.

“Those who serve in leadership structures of our movement, especially within the national executive committee (NEC), the highest decision-making body in-between conferences, are expected at all times to uphold and defend resolutions of the ANC on public platforms,” said Mabe.

Mboweni had earlier tweeted: "As a longstanding member of the ANC and its leadership structures, I know and understand our resolutions.

"I don’t need lectures on that. But on the SARB, I am convinced that we adopted a wrong resolution. What do we want to achieve? Our strategic focus: structural economic reforms."