Browsing: Reserve Bank

And now for the electronic rand?

The South African Reserve Bank is open to issuing a national digital currency, which would likely be based on blockchain or distributed ledger technology. “If we go the route of issuing a digital currency, the objective would be to take

Rand advances as rates left unchanged

The South African Reserve Bank kept borrowing costs unchanged for a fifth straight meeting even as inflation forecasts worsened. The Monetary Policy Committee unanimously decided to leave the benchmark repurchase rate at

SA’s sins forgotten as rand surges

The currency that was forecast to perform the worst in emerging markets this year is also the one benefiting most from the clamour to boost returns in the wake of the UK’s Brexit vote. The rand has strengthened

Programming error leaves JSE red-faced

A record run of recorded inflows into South African stocks were the result of a programming error, with foreign investors in fact selling more shares than they bought over the period, the country’s stock exchange said. Rather than spending

SA caught in low-growth trap

South Africa’s economy is in a low-growth trap and the central bank is unable to assist its recovery, according to governor Lesetja Kganyago. “We are concerned about what has been happening with the growth outlook,” Kganyago

Zero growth in 2016: Reserve Bank

The South African Reserve Bank’s latest forecast is for 0% growth in 2016 compared with 0,6% previously, Reserve Bank governor Lesetja Kganyago cautioned during his rates announcement on

Inflation slows for third consecutive month

South African inflation slowed for a third consecutive month in May, giving the Reserve Bank room to continue the pause in its interest-rate increase cycle. The inflation rate fell to 6,1% from 6,2% a month earlier, Statistics South Africa said

How Capitec took on SA’s big four – and won

The South African retail banking sector is characterised by high barriers to entry. The sector is concentrated, with four of the largest banks – Standard Bank, Absa, First National Bank and Nedbank – accounting for more than 80% of retail

SA hikes interest rates again

South African Reserve Bank (Sarb) governor Lesetja Kganyago has announced an expected 25 basis point hike in interest rates to 7% to help keep inflation in check. This was after the Sarb’s monetary policy committee decided to hike the repo rate by 50