South Africa’s debt market should continue to benefit after it becomes the first in Africa to be included in a prominent global bond index.
Reserve Bank governor Gill Marcus says the monetary policy will maintain its focus on hitting a 3% to 6% inflation target over the medium term.
Gloomy comments from the reserve bank were the backdrop to a fall in bond yields and a volatile day for the rand, which ended down against the dollar.
South African blue-chip stocks closed around 1,2% higher on Tuesday as telecoms, mining and banking shares rebounded.
SA projected a larger-than-expected budget deficit as the approach of elections put the government under pressure to spend more.
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/ 1 December 2010
The independence of South Africa’s Reserve Bank is not undermined by new economic growth proposals unveiled by the government last week.
Finance Minister Pravin Gordhan said on Wednesday local banks remained fairly stable in the face of Europe’s debt woes.
South African businesses have grown more worried about the direction of economic policy and the impact of above-inflation pay rises.
Finance Minister Pravin Gordhan said on Wednesday there was no need to change the South African Reserve Bank’s existing inflation target band.
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/ 17 February 2010
South Africa’s economy is expected to grow by 2,3% in 2010 after contracting 1,8% last year, but unemployment remains a critical challenge.
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/ 17 February 2010
SA’s central bank will continue to target inflation at between 3% and 6% although debate on monetary policy is constructive over the longer-term.
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/ 15 February 2010
Finance Minister Pravin Gordhan on Wednesday presents SA’s budget, days after Jacob Zuma pledged to spend R846-billion on public infrastructure.
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/ 20 February 2008
South Africa’s current account increased to 7,2% of gross domestic product in 2007 and will rise to 8% by 2010, as imports soar and export growth remains sluggish, the Treasury said on Wednesday. The Treasury said the current account had shifted from a surplus of R10-billion in 2002 to a deficit of R143-billion in 2007.