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
Browsing: South African Reserve Bank
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
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
Entities involved in South Africa’s national payment system, including BankservAfrica and the Payments Association of South Africa, have begun work on a major architectural and technical overhaul to facilitate
Bank of Baroda is being investigated by South Africa’s central bank over money held for companies controlled by the politically connected Gupta family, according to a person familiar with the matter. The South African Reserve Bank’s probe
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
A stronger rand and falling inflation expectations may allow South African Reserve Bank governor Lesetja Kganyago to start cutting interest rates this year as long as political developments don’t derail the currency’s gains. Higher commodity prices and
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
The South African Reserve Bank left borrowing costs unchanged for a fourth consecutive meeting as it projects the inflation rate will fall back to within its target and the economy is set to expand at the slowest pace since a recession six years ago. The central bank
Investors are betting on a South African rate increase as inflation expectations surge in the wake of a collapse in the rand. Forward-rate agreements starting in 12 months, used to speculate on policy moves, added 40 basis