Browsing: Reserve Bank

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.

The South African Reserve Bank has raised its repo rate by 50 basis points to 8.25% on continued inflation worries.

South Africa’s headline consumer inflation slowed more than expected in April to 6.8% year on year.

The rand fell past R19/US$ for the first time in three years as investors fretted over the country’s struggles with energy shortages.

The South African Reserve Bank is introducing upgraded banknotes and coins from 4 May to combat counterfeiting and to stay abreast of advances in technology.

The South African Revenue Service said ongoing power cuts have had a “debilitating” effect on the economy and revenue collection.