Luigi Marinus, Portfolio Manager at PPS Investments. The South African Reserve Bank governor announced the Monetary Policy Committee (MPC) decision to keep the repo rate unchanged at 6.5%. Two factors that lead to this decision were the MPC forecasting inflation to peak at 5.9% – which is below the top of the target band – […]
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Efficiency key to overcoming tough economic conditions, says FNB
Following the South African Reserve Bank’s decision earlier today to keep interest rates at their previous level, FNB will maintain its prime lending rate at 10% and review its position following the next SARB MPC meeting in November. (more…)
Interest rate hike unlikely tomorrow
By Adriaan Pask, Chief Investment Officer, PSG Wealth. Indications that South Africa’s economy remained weak at the start of the third quarter of this year make it unlikely that the South African Reserve Bank’s (SARB) monetary policy committee will hike interest rates tomorrow (Thursday, 20 Sep). (more…)
Accelerating transport inflation unlikely to trigger SARB action yet
By Maura Feddersen, Economist at Strategy&, PwC. Currency weakness amid emerging market turmoil and disappointing domestic growth outcomes are set to feature prominently in this month’s Monetary Policy Committee (MPC) at the South African Reserve Bank (SARB). The three-day MPC meeting from 18 to 20 September will determine a suitable interest rate policy that will keep […]
Rand facing headwinds as rates kept on hold
By Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions. Following the announcement by the MPC to keep interest rates unchanged, the rand has shown little reaction, however there are a few key elements that can see the rand come under pressure as the market digests the comments by the Governor. A downward adjustment in […]
SARB vigilance supports consumers, says FNB
Following the South African Reserve Bank’s decision 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 September. Says FNB CEO Jacques Celliers: “The present stance of rate stability and wariness towards global risks is a […]
What to expect from July’s interest rate decision
By Maura Feddersen, Economist at PwC Strategy&. The risks to the inflation outlook may have shifted further to the upside since the last Monetary Policy Committee (MPC) meeting of the South African Reserve Bank (SARB) in May. The vulnerability of the rand exchange rate and lower-than-expected economic growth are likely to be key themes as […]
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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