Said Ramaphosa: "The officials emphasised the policy positions of the ANC on the independence and role of the SA Reserve Bank as set out in the constitution of the Republic of South Africa.
"The constitution ... sets the role of the Reserve Bank as protecting 'the value of the currency in the interest of balanced and sustainable economic growth.' It further states that this mandate must be exercised in regular consultation with government, through the cabinet minister responsible for national financial matters. This policy has not changed.
"It is our desire for the SA Reserve Bank to be publicly owned. However, we recognise that this will come at a cost which, given our current economic and fiscal situation, is simply not prudent."
To this end, Ramaphosa described the public spats that had ensued as "not being helpful" and "undermining the confidence of citizens and of investors".