Treasury lowers borrowing requirement through reserve drawdown
National Treasury lowers gross borrowing requirement through drawdown from the Gold and Foreign Exchange Contingency Reserve Account
National Treasury lowers gross borrowing requirement through drawdown from the Gold and Foreign Exchange Contingency Reserve Account
The rand strengthened and local bond yields dropped as South Africa said it will tap the central bank’s contingency reserves…
South Africa’s central bank maintains its benchmark interest rate at 8.25%, signalling an ongoing battle against persistent inflation.
The South African Reserve Bank’s (SARB) mandate to protect the currency’s value and stimulate economic growth is scrutinised.
As the country grapples with the possibility of an electricity grid collapse and intensified loadshedding, the South African Reserve Bank is taking proactive measures to ensure the continuity of its payments system.
Following the ANC government’s reaffirmed stance of non-alignment on Russia’s invasion of Ukraine, South Africa’s central bank has issued a stern warning about the potential ramifications of sanctions.
South Africa’s central bank is reluctant to pivot away from policy tightening after raising its benchmark interest rate into restrictive territory amid rand weakness and government missteps that continue to fuel inflation.
Colleen Goko highlights a severe crisis that South Africa is facing which is challenging a fundamental principle of monetary policy.
Eskom’s power cuts and the nation’s ongoing electricity crisis have marked SA as a high-cost economy with a 2% drop in GDP.
The ANC seems to be placing the Reserve Bank in a political play – agreeing that the bank’s mandate should be broadened.