No surprises: Sarb raises repo rate as inflation outlook worsens
Sarb governor Lesetja Kganyago announced a 50 basis-point increase in the repo rate to 6.75%, in line with the consensus for a 50 basis-point hike.
Sarb governor Lesetja Kganyago announced a 50 basis-point increase in the repo rate to 6.75%, in line with the consensus for a 50 basis-point hike.
The risk of a recession in South Africa this year is mounting, making policy decisions more difficult for a central bank battling to balance the need to contain inflation and support a stuttering economy.
Team South Africa said it concluded a successful programme at the 2016 World Economic Forum in Davos, Switzerland.
SA Reserve Bank governor Lesetja Kganyago says the bank will ‘act with resolve’ if price pressures stemming from a weaker rand spread more broadly in the economy.
Amid the Rand’s tumultuous start to the year, the SA Reserve Bank (SARB) says that it will assess the appropriateness of the current monetary policy stance.
Alan Hirsch voices his concerns around new Finance Minister David van Rooyen and says his appointment is a ‘very serious situation’.
South Africa is sitting on a food-price time bomb. The effect of the worst drought in more than two decades is being compounded by the rand’s 18 percent plunge against the dollar this year.
Last week, the SARB decided to hike interest rates by 25 basis points. It was a decision that left a bad taste in well-known economist Brian Kantor’s mouth.
The South African Reserve Bank opted to hike the Repo rate by 25bps to 6.25% at its MPC meeting today. Here is Stanlib economist’s Kevin Lings analysis of the decision.
The SA Reserve Bank will ‘probably’ raise interest rates in anticipation of a likely US interest rate lift-off in December, economists said ahead of the Monetary Policy Committee’s decision on rates later.