The ANC’s economic transformation head, Enoch Godongwana, has contradicted party secretary-general Ace Magashule on the ANC’s stance on the mandate of the central bank.

Godongwana on Tuesday night issued a statement saying the ruling party had not taken a decision to expand the mandate of the SA Reserve Bank, despite Magashule having told the media that the ANC National Executive Committee (NEC) determined after its lekgotla at the weekend that the bank should go beyond price stability and include growth and employment.

Godongwana added that Magashule's comments that the party was considering constituting a task team to explore quantitative easing at the bank were "inaccurate".

Instead, Godongwana said, it was the finance minster and the Reserve Bank governor who would "continue to assess our economic performance and coordinate macroeconomic policy in the interest of balance and sustainable economic growth".

These mixed messages are expected to cause further policy uncertainty.