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Monetary Policy Committee

Reserve Bank to cut interest rates further this week, economists say
Business
/ 18 November 2024

Reserve Bank to cut interest rates further this week, economists say

What is expected to be the second cut in an interest rate easing cycle would bring relief to consumers ahead of the festive season

By Aarti Bhana
Reserve Bank cuts repo rate to 8%
Business
/ 19 September 2024

Reserve Bank cuts repo rate to 8%

This comes as inflation eased to 4.4% in August, below the midpoint of the Reserve Bank’s 3-6% target band

By Aarti Bhana
Reserve Bank hold repo rate steady despite inflation pressures
National
/ 18 July 2024

Reserve Bank hold repo rate steady despite inflation pressures

Governor Lesetja Kganyago said the central bank would wait for the inflation rate to fall within its 3% to 6% target before it makes a cut

By Anathi Madubela
Reserve Bank widely expected to hold interest rates this week
Business
/ 16 July 2024

Reserve Bank widely expected to hold interest rates this week

Consumer inflation remains sticky above the 4.5% midpoint of the central bank’s target range

By Aarti Bhana
Reserve Bank holds repo rate
Business
/ 30 May 2024

Reserve Bank holds repo rate

Delivering the unanimous decision, central bank governor Lesetja Kganyago cited a still uncertain global outlook

By Aarti Bhana
Disinflation uncertainty could push interest rate cuts to 2025
Business
/ 23 April 2024

Disinflation uncertainty could push interest rate cuts to 2025

The US Federal Reserve’s ‘higher for longer’ stance and local election jitters have weighed on the rand, adding to price pressures

By Sarah Smit
MPC holds repo rate at multi-year high
Business
/ 27 March 2024

MPC holds repo rate at multi-year high

Inflation is now expected to return to the Reserve Bank’s midpoint target at the end of 2025, later than previously forecast

By Sarah Smit
SARB will hold off on rate cuts until July, experts predict
Business
/ 27 March 2024

SARB will hold off on rate cuts until July, experts predict

Today’s monetary policy committee meeting comes in the wake of a surprise acceleration in South Africa’s annual inflation rate

By Sarah Smit
Kganyago plugs monetary policy committee holes with new member
Business
/ 25 January 2024

Kganyago plugs monetary policy committee holes with new member

David Fowkes, who was appointed as an adviser to the governors last December, has worked for the Reserve Bank since 2013

By Sarah Smit
Reserve Bank sticks to its guns, keeps interest rates on hold
Business
/ 25 January 2024

Reserve Bank sticks to its guns, keeps interest rates on hold

Governor Lesetja Kganyago suggested the central bank will look for the inflation rate to fall within its target before it administers relief

By Sarah Smit
Reserve Bank holds repo rate, looks through shock inflation data
Business
/ 23 November 2023

Reserve Bank holds repo rate, looks through shock inflation data

Despite ongoing volatility, the monetary policy committee revised its 2023 headline inflation forecast down slightly

By Sarah Smit
Summer’s still not here: Reserve Bank holds restrictive repo rate
Business
/ 21 September 2023

Summer’s still not here: Reserve Bank holds restrictive repo rate

Central bank governor Lesetja Kganyago said the job of tackling inflation was not done yet

By Sarah Smit
SA inflation falls to lowest level in two years
Business
/ 23 August 2023

SA inflation falls to lowest level in two years

The inflation rate eased to 4.7%, the lowest since August 2021

By Anathi Madubela
No change to repo rate but bank warns it is not the end of hikes
Business
/ 20 July 2023

No change to repo rate but bank warns it is not the end of hikes

Sticky inflation in major economies suggests that average interest rates will remain high and upside risks to the domestic inflation outlook remain

By Anathi Madubela
Inflation eases to 5.4% in June, below upper limit of Reserve Bank’s target range
Business
/ 19 July 2023

Inflation eases to 5.4% in June, below upper limit of Reserve Bank’s target range

The slowdown will probably influence the central bank’s decision on interest rates

By Anathi Madubela
Another interest rate hike likely but should be the last for a while
Business
/ 18 July 2023

Another interest rate hike likely but should be the last for a while

The Reserve Bank has already lifted rates 10 times since November 2021

By Anathi Madubela
SA banks brace for interest rate bust-up
Analysis
/ 1 July 2023

SA banks brace for interest rate bust-up

A higher cost of borrowing is generally good for bank profit margins – until it isn’t

By Sarah Smit
Inflation drops to lowest level in more than a year
Business
/ 21 June 2023

Inflation drops to lowest level in more than a year

The headline rate eased to 6.3% year-on-year in May, down from 6.8%

By Sarah Smit
Sympathise with the Reserve Bank’s Monetary Policy Committee
Opinion
/ 21 June 2023

Sympathise with the Reserve Bank’s Monetary Policy Committee

The trend of wealth departing our shores is severely discouraging and political and economic reform is needed to stem the tide

By Ross Harvey
As state quietly quits, economic policy goes rogue
Business
/ 30 May 2023

As state quietly quits, economic policy goes rogue

Whatever hope was ignited among investors by the idea of a Ramaphosa presidency has mostly been snuffed out

By Sarah Smit
‘Bitter medicine’: Reserve Bank raises repo rate 50 basis points
Business
/ 25 May 2023

‘Bitter medicine’: Reserve Bank raises repo rate 50 basis points

Reserve Bank governor Lesetja Kganyago underlined the need for short-term pain in the interest of long-term gain

By Sarah Smit
Inflation eases to 11-month low
Business
/ 24 May 2023

Inflation eases to 11-month low

The rand strengthened ahead of Wednesday’s inflation data, but it still held above R19 against the dollar

By Sarah Smit
Reserve Bank left toothless amid Eskom-induced stagflation
Business
/ 23 May 2023

Reserve Bank left toothless amid Eskom-induced stagflation

The recent rand crash has led some to believe another 50 basis point rise is on the horizon, despite a view that further hiking will do little to tame inflation

By Sarah Smit
Self-inflicted pain makes SA rand a sore thumb
Business
/ 18 May 2023

Self-inflicted pain makes SA rand a sore thumb

The currency, which is usually a bellwether for other emerging markets, has diverged from global trends – thanks in large part to
the energy crisis

By Sarah Smit
Reserve Bank hikes repo rate 50 basis points, despite poor growth
Business
/ 30 March 2023

Reserve Bank hikes repo rate 50 basis points, despite poor growth

Governor Lesetja Kganyago underlined the deleterious effect of inflation, which the monetary policy committee has revised higher, on the pockets of the poor

By Sarah Smit
Dark days as inflation rises after another jump in food prices
Business
/ 22 March 2023

Dark days as inflation rises after another jump in food prices

Analysts expected inflation to continue on a downward trajectory in February after falling to 6.9% in January; instead, it reached 7%

By Sarah Smit
Explainer: What a weak rand means for interest rates
Business
/ 14 March 2023

Explainer: What a weak rand means for interest rates

Later this month the South African Reserve Bank will decide how big a rise the country’s flailing economy can take

By Sarah Smit
With little detail about Eskom’s debt plan expected, budget could disappoint
Business
/ 20 February 2023

With little detail about Eskom’s debt plan expected, budget could disappoint

The utility’s R400 billion debt has fed into the country’s 15-year energy crisis and low growth potential, which has been identified as a key credit weakness

By Sarah Smit
From Russia, with love: How a war changed the global economy
Business
/ 16 February 2023

From Russia, with love: How a war changed the global economy

One year on, the Kremlin’s impact appears to be retreating — but, amid uncertainty about the global economy’s growth trajectory, risks to inflation remain

By Sarah Smit
Inflation continues its decline
Business
/ 15 February 2023

Inflation continues its decline

The inflation rate fell for a third consecutive month, as petrol price cuts provided some welcome relief

By Sarah Smit
Reserve Bank lifts repo rate by 25 basis points in the wake of load-shedding’s economic hit
Business
/ 26 January 2023

Reserve Bank lifts repo rate by 25 basis points in the wake of load-shedding’s economic hit

The country’s energy crisis stands to shave two percentage points off growth in 2023

By Sarah Smit
Higher electricity tariffs stand in the way of inflation normalising in 2023
Business
/ 18 January 2023

Higher electricity tariffs stand in the way of inflation normalising in 2023

Reserve Bank’s inflation forecast likely to be pushed up, with Eskom set to increase the price of electricity by 18.65% from April

By Anathi Madubela
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