Reserve bank
Repo rate to remain unchanged at 3.5%
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...
Expansion in the broadly defined M3 measure of money supply quickened to 10.47% in April from 9.49% in March.
The country’s banks, some of the largest on the continent including Standard Bank and FirstRand, have seen profit growth slip in recent years, while risks from lending to the increasingly strained government and the economy have increased.
The Reserve Bank announced on Thursday that it had cut the repo rate by 50 basis points to 3.75% in order to promote growth.
The central bank has announced an emergency repo rate cut of a hundred basis points to 4.25%.
Reserve Bank Governor Lesetja Kganyago announced a reduction in the repo rate of 100 basis points to 5.25%.
The Reserve Bank is concerned about fake claims that it is recalling money from the public.
African Bank was placed under the central bank's control in 2014 after nearly collapsing under the weight of bad loans.
Reserve Governor Lesetja Kganyago is among global leaders in Davos at the World Economic Forum, which would discuss global warming and climate change as talking points.
Reserve Bank Governor Lesetja Kganyago announced on Thursday that the repo rate had been reduced by 25 basis points to 6.5%.
Economists say there were several factors that were in favour of a drop in the repo rate.
All but three of the 24 economists surveyed over the past three days said the repo rate would be kept unchanged at 6.5% on 16 January.
A median forecast from 24 economists, polled this week, suggests the economy will grow 0.6% this year, slower than last year’s 0.8% and weaker than the 1.1% predicted in a May poll.
The party said while it was its "desire for the South African Reserve Bank to be publicly owned", it recognised this was not prudent given the current economic and fiscal situation.
Governor Lesetja Kganyago said rising fuel and electricity prices posed a domestic risk to the inflation outlook.
Francois Groepe tendered his resignation last month to pursue outside opportunities.
The Reserve Bank's Prudential Authority says that the final winding-up of VBS is in the best interests of all parties.
The Hawks say this will ensure there’s swift progress to find how almost R2 billion that was stolen.
A former partner at the firm Sipho Malaba scored R33 million from the R1 billion that was syphoned off.