‘The surprise but welcome decision by the MPC to reduce interest rates by 25 basis points, despite the fact that there remain potential risks to the inflation outlook, emphasizes the SARB’s concern about SA’s growth prospects,” says Professor Raymond Parsons, economist at the NWU School of Business and Governance. “This is confirmed by the MPC’s […]
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Fading inflation brings more relief to consumers, says FNB as it cuts rates
Following the South African Reserve Bank’s Monetary Policy Committee (MPC) decision earlier today to reduce its repo rate by 0.25%, FNB confirms that it will cut its prime lending rate from 10,5% to 10.25%. The new rate will be applied from Friday 21 July 2017 on all prime-linked rates. (more…)
Is fixing your home loan interest rate ideal?
Following the South African Reserve Bank’s move to keep interest rates at the same level, coupled with the notion that the bank may have reached the peak of its hiking cycle; home owners will probably be reluctant to fix their home loan interest rates. (more…)
Recommendation to nationalise SARB challenges central bank status
“Following on the recent decision by the Public Protector for Parliament to change the South African Reserve Bank (SARB)’s mandate by amending the constitution, the recommendation yesterday by the ANC conference to ”nationalize’ the central bank again challenges the status of the Bank.” (more…)
Minister of Finance set to take Public Protector Report on review
The Minister of Finance, Malusi Gigaba, has instructed counsel to institute review proceedings for the review and setting aside of the findings, remedial action and the entire report of the Public Protector, titled “Alleged Failure to Recover misappropriated Funds”. (more…)
‘It’s time to cut interest rates’
Clyde Rossouw, Portfolio Manager, & Nazmeera Moola, co-Head of fixed Income at IAM, argue that now is the time for the SARB to take the lead and make a bold, but correct step by cutting rates and thereby provide some relief to the SA economy. (more…)
SARB responds to Public Protector
The Public Protector yesterday released a report on the Alleged Failure to Recover “Misappropriated Funds” in the erstwhile Bankorp lifeboat investigation. (more…)
Public Protector’s proposal to change SARB mandate opens ‘a Pandora’s Box’
‘The Public Protector’s proposal that the mandate of the South African Reserve Bank (SARB) should be changed in order to be more ‘transformation-led’ threatens to open a Pandora’s Box of additional risks for markets and rating agencies about SA. This is according to economist Professor Raymond Parsons. (more…)
