Consumer inflation is expected to remain close to the central bank’s 6% ceiling, amid war-induced oil price rally
The volume of new mortgage applications reached multi-year highs amid record low interest rates
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The central bank has been criticised for hiking interest rates to the detriment of employment
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Critics have said the repo rate hike will jeopardise already sluggish economic growth, but others say the gradual increase will have little effect
The decision to hike the repo rate by 25 basis points comes in the wake of red-hot inflation in advanced economies and fears policymakers will start to dial back on accommodative measures
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Global inflation has surprised on the upside, which may factor into whether the Reserve Bank’s monetary policy committee decides to raise the interest rate on Thursday
Inflation rose well beyond the Reserve Bank’s midpoint target in August
In South Africa, a strong trade surplus, buoyed by robust commodity prices, will cushion our economy against pressure arising from US policy
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Food inflation was unchanged at 6.7% in July, but remained elevated on continued upward pressure from prices for meat and the oils and fats category.
Last week’s violence will likely slow South Africa’s economic growth, the central bank’s monetary policy committee said on Thursday afternoon
The South African Reserve Bank governor believes the state has to spur growth, restore the country’s public finances and arrest debt to escape the economic slump
Reserve Bank stands at the ready to act if the rise in inflation threatens to become permanent
The South African Reserve Bank cautioned that if it was not for load-shedding, the country’s economy could have been stronger
The South African Reserve Bank’s MPC has decided to keep the repo rate unchanged, at 3.5%, to let the actions it took last year trickle down into the economy
The central bank estimates that gross domestic product (GDP) to contract by 8.2% in 2020
Three members of the South African Reserve Bank’s Monetary Policy Committee(MPC) have decided to keep rates unchanged at 3.5%
Repo rate drops to 3.5% as Reserve Bank predicts a 7.3% contraction in South Africa’s GDP
The finance minister has found money for the Covid crisis, but the cupboard is bare and he warns that a fiscal crisis is possible in 2024
The Monetary Policy Committee has cut the repurchase rate by a further 50 basis points, after a two consecutive cuts of 100 basis points earlier this year
Finance Minister Tito Mboweni has outlined the fiscal and monetary policy interventions implemented by the government in its fight against Covid-19
The central bank warns of the harmful effect of Covid-19 on the economy, while the treasury details more plans to ease the pain
This takes the rate to 5.25% per annum, from 6.25%
The South African Reserve Bank’s monetary policy committee has unanimously decided to reduce the repo rate by 25 basis points, to 6.25%. This is the rate at which the bank lends money to other banks, which then lend it to people for things such as mortgages. The central bank revised the forecasted GDP growth for […]
Although economists say there is room now for SARB to cut the repo rate in order to strengthen the economy – the central bank kept it unchanged
The rate also helps target inflation. The recent inflation rate is at 4.3% — which is well within the central bank’s target of 3% – 6%
In a move that will bring some relief to consumers the South African Reserve Bank (SARB) cut its repo rate on Thursday to 6.5% The step was largely expected, particularly in light of weak local economic growth which is expected to keep inflation in check as well as moves towards easing monetary policy globally. It […]
Lesetja Kganyago says three of bank’s monetary policy committee preferred an unchanged stance, while three voted for a 25 basis point hike
The South African Reserve Bank’s monetary policy committee will be announcing its repo rate decision on Thursday
Governor Lesetja Kganyago warns of upward pressure on inflation and the challenging outlook for domestic growth
The last time SARB cut the repo rate before March was in July 2017, when the MPC reduced the rate by 25 basis points from 7% to 6.75%
The key lending rate has remained unchanged since March after the monetary policy committee raised it by 200 basis points.
The MPC decided unanimously to leave the benchmark repurchase rate at 7%.
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