The Reserve Bank raised its main lending rate by 25 basis points to 4.25% on Thursday, citing inflation risks linked to the war in Ukraine.
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Consumer inflation quickened faster than expected in December to 5.9% year on year, from 5.5% in November, setting the stage for another rate hike.
South Africa recorded R557.9-billion of foreign direct investment inflows in the third quarter of 2021.
South Africa’s financial regulator is planning to unveil a regulatory framework covering cryptocurrencies early next year.
The South African Reserve Bank raised its main lending rate by 25 basis points to 3.75% on Thursday, citing increased inflation risks.
The Bank for International Settlements will test the use of central bank digital currencies with South Africa and other countries in an experiment that could lead to a more efficient global payments platform.
South Africa is moving with more urgency to stiffen oversight of cryptocurrency assets after a proliferation of scams.
South Africa has laid the foundation for finance watchdogs to set crypto-asset controls as the nation seeks to curb growing cases of fraud and improve the management of cross-border flows.
The South African Reserve Bank is studying the benefits of issuing a digital currency for general retail purposes, it said on Tuesday, in line with several other central banks.
The South African Reserve Bank will introduce the Authenticated Collections/DebiCheck project from 1 May 2021 as part of its modernisation of the National Payment System.