The Intergovernmental FinTech Working Group (IFWG) is taking steps to formalise South Africa’s stance on fintech and innovation, aiming to produce a draft policy paper by early 2019. The paper is set to present
Browsing: Reserve Bank
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
The South African Reserve Bank, through its fintech unit, has successfully demonstrated a real-world trial of a distributed ledger technology-based wholesale payment system. The Bank has released a report on Project
South Africa’s central bank chooses to call digital currencies such as bitcoin “cyber-tokens” because they don’t meet the requirements to be classified as money. “We don’t use the term ‘cryptocurrency’ because it doesn’t
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
South Africa’s economic growth could pick up faster than forecast if the right structural reforms are implemented, the Reserve Bank said. That means the economy could expand faster than the 2% for 2020 the central
South Africa’s inflation rate slowed in January, easing pressure on the central bank to maintain a tight monetary stance. Inflation slowed to 4.4% from 4.7% in December, Statistics South Africa said Wednesday in
The South African Reserve Bank said on Tuesday that it will complete a review into cryptocurrencies, including bitcoin, before the end of 2018. The objective is to “inform an appropriate policy framework and regulatory regime
The Reserve Bank cut borrowing costs for the first time in five years as inflation eased to a 19-month low and the economy suffers through the second recession in almost a decade. The Monetary Policy Committee
In South Africa, membership of the quirkiest club in global central banking just lost some of its cachet. The Reserve Bank is one of a handful around the world still owned by shareholders, and that eccentric structure