The announcement comes as the bank foresees lower global interest rates and a weaker outlook for the local economy
The monetary policy committee said it remains vigilant amid risks to inflation outlook on the global and domestic front
This was despite the central bank highlighting upside risks to the inflation outlook
The governor of the central bank mulls targets as inflation drops
This comes as inflation eased to 4.4% in August, below the midpoint of the Reserve Bank’s 3-6% target band
Governor Lesetja Kganyago said the central bank would wait for the inflation rate to fall within its 3% to 6% target before it makes a cut
Inflation is now expected to return to the Reserve Bank’s midpoint target at the end of 2025, later than previously forecast
The president reappointed Reserve Bank governor Lesetja Kganyago, as well as deputy governors Fundi Tshazibana and Rashad Cassim
Commentators are cautiously positive about the treasury’s decision to use the Gold and Foreign Exchange Contingency Reserve Account
David Fowkes, who was appointed as an adviser to the governors last December, has worked for the Reserve Bank since 2013
Governor Lesetja Kganyago suggested the central bank will look for the inflation rate to fall within its target before it administers relief
The Reserve Bank governor confirmed the central bank is in talks with the treasury over calls to tap the Gold and Foreign Exchange Contingency Reserve Account
Despite ongoing volatility, the monetary policy committee revised its 2023 headline inflation forecast down slightly
Central banks’ contribution to climate change-related aims, and their role in the transition, depend on government policy
Data released on Wednesday showed that the annual rate accelerated to 5.4%, from a previous reading of 4.8%
As central bankers in the advanced world unite over the ‘higher for longer’ mantra, the Reserve Bank cautions against raising targets amid still-high inflation
Central bank governor Lesetja Kganyago said the job of tackling inflation was not done yet
The central bank’s conclusion that the president did not have an obligation to report forex paid to, and stolen from, his Phala Phala farm was irrational, it argues in court papers
The Reserve Bank governor said lower inflation gives central banks more room to respond to economic shocks
Nor could it release the report, because this would see it breach its founding Act, the central bank governor told MPs
The president did not violate any exchange control regulations, the central bank has found after a lengthy investigation
Addressing his supporters, Malema called on presidents of Brazil, China and India to pull out of the Brics summit in solidarity with Russia’s Putin
Sticky inflation in major economies suggests that average interest rates will remain high and upside risks to the domestic inflation outlook remain
Despite diplomatic tensions caused by Pretoria’s ties to Moscow, Ramaphosa said the US president was initially encouraged by his non-aligned stance
The South African government has remained coy over its economic ties with the US, but Secretary of State Antony Blinken’s office has issued a subtle warning to Pretoria
The Reserve Bank governor had to defend interest rate hikes against criticism that they will do little to temper sticky inflation
Governor Lesetja Kganyago’s obsession with imaginary ‘barbarians at the gate’ of the central bank, it is losing credibility in the eyes of the public
Whatever hope was ignited among investors by the idea of a Ramaphosa presidency has mostly been snuffed out
Tighter financial conditions will hurt an economy already brought to its knees by the government
Reserve Bank governor Lesetja Kganyago underlined the need for short-term pain in the interest of long-term gain
The Reserve Bank’s decision to hike or not to hike interest rates is most acutely felt in this segment of society, people who are first-time home or vehicle buyers and more often than not, credit card holders
The head of the central bank urged the government to stay committed to structural reforms, especially with regard to logistics and electricity