Inflation has fallen below the Reserve Bank’s target ceiling for the first time in 14 months.
Browsing: Lesetja Kganyago
The crisis may have reduced the nation’s economic growth rate by as much as 3.2 percentage points last year.
The Reserve Bank will keep monetary policy tight for longer to tame persistent inflation, governor Lesetja Kganyago said.
The rand is paying the price for South Africa’s woes, with the R20/$ level now firmly in sight.
The South African Reserve Bank has raised its repo rate by 50 basis points to 8.25% on continued inflation worries.
By as soon as Wednesday evening, the amount of electricity that Eskom has failed to provide will be greater than the power it couldn’t provide in the whole of 2022.
South Africa has had 100 consecutive days of rolling blackouts, the longest stretch yet, with more to come as its electricity crisis deepens.
South Africa’s electricity crisis is costing the economy as much as R899-million/day, according to central bank estimates.
The South African Reserve Bank has taken a step closer to creating a national digital currency. This is after it took the wraps last week off the second phase of Project Khokha.
South Africa used a revenue windfall to cut corporate taxes to revive a coronavirus-ravaged economy and set more ambitious targets to reduce debt and fiscal deficits.