Latest articles on Nicky Weimar

Repo rate falls to 3.5% — its lowest since 1998

Repo rate drops to 3.5% as Reserve Bank predicts a 7.3% contraction in South Africa’s GDP

Mboweni delivers the bad news

South African Reserve Bank Governor Tito Mboweni has raised the repo rate, at which the South African Reserve Bank lends money to banks, by 50 basis points to 11,5% following a two-day meeting of the bank's monetary policy committee. The prime overdraft rate therefore increases to 15%.

Inflation jumps to 9,4% in February

The increase in South Africa's consumer price index excluding mortgage rate changes (CPIX) for metro and other areas, which is used by the South African Reserve Bank for its inflation target, was 9,4% year-on-year in February from 8,8% in January. The key drivers were higher food and petrol prices.

Power crisis likely to wipe out surplus

The goal posts for Finance Minister Trevor Manuel's spending plans in Wednesday's national budget were carefully placed last October when he revealed his medium-term expenditure framework. However, political change and the dramatic change in economic outlook caused by the electricity crisis have set the posts whirling.

Interest rate climbs again

South African Reserve Bank Governor Tito Mboweni on Thursday raised the repo rate by 50 basis points following a two-day meeting of the bank's monetary policy committee. The increase pushes the repo rate to 11%, the prime overdraft rate to 14,5% and the tightening cycle that began in June last year to 400 basis points.

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