The ANC has reassured investors and the business world that there will be no change of policy simply due to the change in leadership at the central bank.

Following news on Sunday that Tito Mboweni, head of the Reserve Bank for the last decade, had decided against renewing his contract, there had been fears that the central bank may scrap its inflation targeting policy.

President Jacob Zuma appointed Gill Marcus - former deputy governor and head of banking group Absa - as Governor of the central bank from November 9.

"Policy is not a function of an individual. Gill Marcus is going to implement the policies that are there. She is appointed the governor of the Reserve Bank and she will find policy there," said Gwede Mantashe, the ANC Secretary-General.