The announcement comes as the bank foresees lower global interest rates and a weaker outlook for the local economy
The South African Reserve Bank has warned of an upside risk to the inflation outlook
This was despite the central bank highlighting upside risks to the inflation outlook
A third consecutive interest rate cut will help stimulate the economy, but the central bank will also be cautious about inflation pressures
Global tourism has reached 96% of pre-pandemic levels; tails are up
This comes as inflation eased to 4.4% in August, below the midpoint of the Reserve Bank’s 3-6% target band
Better than expected inflation outcomes domestically and globally back the case for the central bank to cut the repo rate to 8%, economists said
Inflation is now expected to return to the Reserve Bank’s midpoint target at the end of 2025, later than previously forecast
Today’s monetary policy committee meeting comes in the wake of a surprise acceleration in South Africa’s annual inflation rate
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
Central bank governor Lesetja Kganyago said the job of tackling inflation was not done yet
With interest rates at a 14-year high, many South Africans have depleted their emergency savings
Sticky inflation in major economies suggests that average interest rates will remain high and upside risks to the domestic inflation outlook remain
The Reserve Bank has already lifted rates 10 times since November 2021
The Reserve Bank governor had to defend interest rate hikes against criticism that they will do little to temper sticky inflation
Whatever hope was ignited among investors by the idea of a Ramaphosa presidency has mostly been snuffed out
Reserve Bank governor Lesetja Kganyago underlined the need for short-term pain in the interest of long-term gain
The rand strengthened ahead of Wednesday’s inflation data, but it still held above R19 against the dollar
The recent rand crash has led some to believe another 50 basis point rise is on the horizon, despite a view that further hiking will do little to tame inflation
The currency, which is usually a bellwether for other emerging markets, has diverged from global trends – thanks in large part to
the energy crisis
Used vehicle prices soared amid supply-chain constraints, creating a boom that some experts have speculated may be about to go bust
Later this month the South African Reserve Bank will decide how big a rise the country’s flailing economy can take
The inflation rate fell for a third consecutive month, as petrol price cuts provided some welcome relief
The country’s energy crisis stands to shave two percentage points off growth in 2023
Analysts were expecting far more modest GDP growth, considering the mixed bag of economic data for the third quarter
Decisions from a decade ago have come back to haunt economies – policymakers should be vigilant
Consumer inflation hit 7.6% year-on-year in October, bucking the downward trend that had been anticipated after the July ‘peak’
The increase will probably add to the South African Reserve Bank’s hawkishness, with analysts expecting another large repo rate hike on Thursday
Workers are in the throes of a cost of living crisis, which could force the government to fold on its hard line against more spending
The government should rather consider a targeted approach to reducing inflation
Stay vigilant and really understand what higher interest rates mean for you, says one expert