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Inflation declines but rand depreciation triggers rate hike warning

Statistics South Africa (StatsSA) reported on June 20ththat consumer price inflation declined from 4.5% year-on-year (y-o-y) in April to 4.4% y-o-y in May. “The latest reading is in line with economists’ expectations and is comfortably within the South African Reserve Bank (SARB) target range of 3%-6%,” say PwC economists. (The StatsSA inflation report can be […]

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SARB gains further insights on DLT developments in SA

The South African Reserve Bank(SARB) has launched the report on Project Khokha. Project Khokha is a proof of concept designed to simulate a ‘real-world’ trial of a distributed ledger technology (DLT)-based wholesale payment system. The project focussed on providing participants practical experience on aspects of using DLT in a realistic test environment where different deployment […]

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What do rates being on hold mean for your investments?

By Chantal Marx: FNB Wealth and Investments, Head of Research.  The SARB MPC has decided to keep rates on hold for now, in-line with our expectations. The Governor did take on a more hawkish tone, as expected, but it was far less hawkish than we anticipated. While he conceded that the balance of risks to […]

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Reserve Bank keeps repo rate unchanged

Following the South African Reserve Bank (SARB)’s decision earlier today to keep interest rates unchanged, FNB confirms that it will maintain its prime lending rate at 10% and will review its position following the next SARB MPC meeting in July. Says FNB CEO Jacques Celliers: “Faced with the possibility of sharp increases in fuel prices […]

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FNB confirms that it will reduce its prime lending rate to 10%

Following the South African Reserve Bank’s decision to cut interest rates by 0.25%, FNB confirms that it will reduce its prime lending rate to 10%. The new rate will be applied to all prime-linked loans from Thursday, 29 March. (more…)

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Prof Raymond Parsons

Rate cut will help to strengthen consumer and business confidence

‘The widely expected decision by the Monetary Policy Committee (MPC) of the SARB to cut interest rates by 25 basis points, even though it was a split MPC vote, was the right one for the economy at this juncture and will strengthen consumer and business confidence,” says NWU School of Business Economist Professor Raymond Parsons. […]

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Treasury

National Treasury publishes Foreign Member Funds Framework for comment

The National Treasury (NT) today publishes for comment the Foreign Member Funds Framework to be declared by the Minister of Finance in terms of the Collective Investment Schemes Act (Act 45 of 2002). In the 2014 Budget, the Minister of Finance announced the introduction of an alternative class of investment funds called foreign member funds […]

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Rate cut is a welcome relief for the agricultural sector

Commentary by Paul Makube, Senior Agricultural Economist at FNB Business.  Agriculture is a capital intensive industry with a national agriculture debt in access of R 160 million, the reduction of the interest rate by 25 basis points is therefore a welcome relief to farmers and producers who are still recovering from the aftermath of the […]

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