Lesetja kganyago
Kganyago assures account holders that Ubank will remain operational
The governor announced on Monday that Ubank had been placed under curatorship.
Ubank is a financial services provider and has been focusing on the gold and platinum mining communities.
He said on Thursday this after announcing that the monetary policy committee had decided to increase the repo rate by 25 basis points.
South African Reserve Bank Governor Lesetja Kganyago said inflation was high due to a number of factors, including high electricity prices.
Reserve Bank Governor Lesetja Kganyago announced the MPC's decision on Thursday afternoon.
Reserve Bank Governor Lesetja Kganyago on Thursday announced the MPC's decision in Pretoria.
The Reserve Bank has increased the rate by 25 basis points to 3.75%.
South African Reserve Bank Governor Lesetja Kganyago made the announcement on Thursday afternoon at a press briefing.
He said politicians need to realise there was no such thing as a free lunch.
Reserve Bank Governor Lesetja Kganyago made the announcement on Thursday after a meeting of the Monetary Policy Committee.
Governor Lesetja Kganyago announced the decision of the monetary policy committee on Thursday afternoon, saying the country's economy had continued to recover despite a number of setbacks.
This come after the bank's Monetary Policy Committee cut the repo rate by 275 basis points last year to try and counter the effects of negative growth due to COVID-19.
The South African Reserve Bank's monetary policy committee announced on Thursday that rates would remain unchanged while the economy shows some signs of picking up.
Prior to Thursday's announcement, the bank's Monetary Policy Committee had cut the repo rate by 275 basis points this year to try and counter the effects of negative growth due to COVID-19.
The bank has reduced the rate by 300 basis points so far this year, in an effort to promote growth amid an economy suffering under the effects of the COVID-19 lockdown.
He was speaking at the Cape Town Country Club on Wednesday where he said he won't be drawn on whether there will be any further rate cuts to further cushion South Africans from the devastating effects of COVID-19.
The bank has long been under pressure to take more drastic measures to revive growth with calls for it to slash lending rates and finance government through quantitative easing.
The Reserve Bank has long been under pressure to take more drastic measures to revive growth in Africa’s most advanced economy, with calls for the bank to slash lending rates and finance government through quantitative easing.
The South African Reserve Bank Governor Lesetja Kganyago made the announcement on Thursday.