Unplanned outages at Eskom’s generating fleet fell to less than 16GW in the past two months, President Cyril Ramaphosa said.
Browsing: Reserve Bank
The Reserve Bank decided to halt interest rate hikes on Thursday for the first time since November 2021.
Inflation has fallen below the Reserve Bank’s target ceiling for the first time in 14 months.
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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 platform for central bank digital currencies will enable transactions between countries, the IMF said.
The Reserve Bank is working on a contingency plan to ensure the country’s payments system remains in operation in the event Eskom’s electricity grid collapses.
The rand is paying the price for South Africa’s woes, with the R20/$ level now firmly in sight.
The rand plunged to a record low as another jumbo rate hike raised concerns about the outlook for economic growth.