The South African Reserve Bank has cut the repo rate by a 100 basis points – the second time it has done so in less than a month as worries mount over the impact of Covid-19 on economic growth.
Browsing: Lesetja Kganyago
Faced with the biggest challenge of any post-apartheid South African leader, President Cyril Ramaphosa has also been given a rare opportunity to push through the painful reforms the economy needs.
The South African Reserve Bank cut its benchmark interest rate by the biggest margin in more than 10 years as it seeks to support an already fragile economy that’s expected be hit hard by the novel coronavirus.
African central banks are working to link the continent’s major cross-border payment systems as plans to create the world’s largest free-trade zone gain momentum.
The South African Reserve Bank cut its benchmark interest rate for the first time in more than a year as it almost halved its economic growth forecast for the year.
South Africa’s central bank won’t bail out the country’s troubled state-owned companies including power utility Eskom because it would fuel inflation, the governor, Lesetja Kganyago, said.
South Africa’s inflation rate reached the mid-point of the central bank’s target range of 3-6% in December — something the Reserve Bank says would allow for flexibility in dealing with price shocks.
The South African Reserve Bank increased its benchmark interest rate for the first time in more than two years as it sees inflation risks staying elevated.
South Africa’s inflation rate fell in May as food prices rose at the slowest pace since 2013, reducing chances that the central bank will increase interest rates later this year. Consumer prices climbed 4.4% from a year
South Africa’s inflation rate fell to seven-year low in March, moving further below the midpoint of the central bank’s target range. Inflation slowed to 3.8% from a year earlier compared to 4% in February, Pretoria-based