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/ 22 January 2010
The South African Reserve Bank is likely to keep interest rates steady next week.
Reserve Bank Governor Tito Mboweni dropped the repo rate by 50 basis points on Thursday, bringing it to 7%, while prime is 10,5%.
The electricity hike could further slow down the decline in consumer price inflation (CPI), which government has targeted at between 3% to 6%.
Consumers suffered a triple whammy this week, with stiff increases in electricity tariffs, a petrol-price hike and no interest-rate cut.
South Africa’s central bank surprised markets by keeping its repo rate unchanged at 7,5% on Thursday on concerns about stubbornly high inflation.
The Congress of South African Trade Unions voiced anger on Thursday over a surprise central bank decision to keep interest rates on hold.
SA’s central bank left its repo rate unchanged at 7,5% on Thursday, with concerns about inflation overriding worries about a faltering economy.
The pressure on the South African Reserve Bank to lower interest rates drastically is uncalled for, Sanlam economist Jac Laubscher said on Friday.
Numsa will on Monday ask all Cosatu affiliates to join a national rolling mass action, should the Reserve Bank not cut interest rates.
Cosatu said on Friday it would still push for economic policy changes after the ANC warned labour against pressuring Jacob Zuma to meet their demands.
Thursday’s ”minimal” 100 basis points repo rate cut will do little to help with economic recovery in the country, Cosatu said.
The South African Reserve Bank’s Monetary Policy Committee on Thursday cut the repo rate by 100 basis points to 7,5%.
Commercial banks are not necessarily passing on the benefits of lower interest rates to consumers, Tito Mboweni said on Wednesday evening.
South Africa’s central bank is likely to keep its aggressive monetary easing stance next week with a steep rate cut to boost the economy.
South Africa’s central bank cut its repo rate by 100 basis points to 9,5% on Tuesday, as expected, to help boost waning growth.
Tito Mboweni announced on Wednesday that the South African Reserve Bank will now meet on March 23 and 24 to decide on interest rates.
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/ 20 February 2009
Despite the fact that interest rates have dropped by 1,5% since December 2008, it is unlikely that the house market will stage a rebound during 2009.
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/ 5 February 2009
The South African Reserve Bank’s monetary policy committee on Thursday decided to reduce the repo rate by 100 basis points to 10,5%.
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/ 4 February 2009
The rand gained slightly against the dollar on Wednesday and was seen keeping its firmer tone ahead of an interest rate decision on Thursday.
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/ 3 February 2009
South Africa’s price growth was lower in December under a new, re-weighted index, though the fall was less than expected.
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/ 30 January 2009
South African bonds overlooked a weaker rand to open firmer on Friday after credit extension and money supply data surprised to the downside.
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/ 22 January 2009
The move by the Reserve Bank to bring its monetary policy committee meeting forward has led to suggestions that it’s keen to cut rates aggressively.
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/ 15 January 2009
South African economic confidence has edged up to a 20-month high, suggesting improved conditions towards the end of 2009 as inflation eases.
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/ 17 December 2008
With both inflation falling and the economy weak, the Reserve Bank will have ample scope to cut interest rates next year, Nedbank said on Wednesday.
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/ 13 December 2008
Mboweni’s miserly rate cut is unlikely to bring festive cheer, writes Maya Fisher-French.
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/ 12 December 2008
With downside risks to economic activity clearly outweighing upside risks to inflation, rates will continue to be cut through 2009, analysts expect.
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/ 11 December 2008
The cut in the repo rate made by the South African Reserve Bank on Thursday was ”the right thing to do”, Standard Chartered Bank has said.
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/ 11 December 2008
SA economic confidence surged to a 19-month high in November, a survey showed on Thursday, although overall output growth should remain sluggish.
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/ 11 December 2008
The JSE slipped into negative territory by midday on Thursday with resources leading the downside as participants sought to square positions.
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/ 10 December 2008
A further increase in inflation expectations could prompt the SA Reserve Bank to err on the side of caution, a Sanlam economist said on Wednesday.
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/ 5 December 2008
The case for an early cut in interest rates is now very strong, Nedbank Group’s economic unit said on Friday.
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/ 5 December 2008
Cosatu said on Friday it’s "deeply worried" that more than a third of SA companies are likely to retrench staff in the next six months.