SA Reserve Bank Archives

21 Oct 2021

Prevention is better than cure: Rates expected to inch up

By Staff Writer

After a relatively benign second quarter, risks escalated during the third quarter. China’s regulatory tightening turned even more aggressive, while last year’s “three red-lines” for developers came home to roost in the threat of an Evergrande default. The US debt ceiling deadline loomed increasingly large, while the Fed moved the dot plot higher and confirmed a more rapid pace of tapering in the September FOMC meeting.

06 Oct 2021

Changing hands, changing currencies – SARB approval for cross-border transactions

By Staff Writer

In light of recent developments on the sides of both the South Africa Revenue Service (SARS) and the South African Reserve Bank (SARB), the regulatory burden for the cross-border flow of funds, resulting from transactions concluded between South African residents and foreign parties, has been significantly eased.

28 Sep 2021

Central bank policymaking in the age of Covid-19

By Staff Writer

Central bank policymaking in the age of Covid was initially straightforward. Central banks acted in unison to cut rates, and many also injected substantial amounts of liquidity into their financial systems. The world saw synchronised easing in response to an unprecedented crisis.

23 Sep 2021

Interest rates still on hold but scales start tipping towards a hike

By Staff Writer

The SARB Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3.5% in a unanimous decision. This outcome was in line with the consensus survey expectations, as well as the market prices. As such, there was minimal impact on bond yields, the rand, and equities. The FRA (forward rate agreement) curve steepened slightly as the SARB’s repo rate model projected a slightly higher profile over the longer term.

30 Jun 2021

South African Reserve Bank celebrates its centenary birthday

By Staff Writer

Today, 30 June 2021, the South African Reserve Bank (SARB) marks a significant milestone as it celebrates its centenary birthday. This makes South Africa’s central bank the oldest central bank in Africa. To mark its centenary, the SARB will issue a commemorative circulation R5 coin.

31 Mar 2021

Minister of Finance approves Access Bank’s acquisition of Grobank

By Staff Writer

The Minister of Finance, on the recommendation of the Prudential Authority (PA), has approved the proposed acquisition of the controlling interest in Grobank by Access Bank Plc (Access Bank). Access Bank is a Nigerian-registered multinational bank with a footprint across Africa, the United Kingdom and Asia.

30 Mar 2021

Household finances weakened by lockdown restrictions: SARB QB

By Staff Writer

The South African Reserve Bank’s Quarterly Bulletin (QB) was released earlier today. According to the Quarterly Bulletin, economic activity normalised on easier lockdown restrictions in the fourth quarter of 2020, supporting growth of 3.7% q-oq in personal disposable income (PDI).

23 Mar 2021

Is intellectual property one of the most valuable assets of the information age?

By Staff Writer

Before you start creating intellectual property (IP), make sure that you structure it correctly, to avoid unnecessary frustrations when it comes to any future sales or transfer.

29 Oct 2019

SARB announces 2019 Global Fintech Hackcelerator Southern Africa winners

By Janice Roberts

Today, 29 October 2019, the South African Reserve Bank (SARB) announced the 2019 Global Fintech Hackcelerator @ Southern Africa competition winners – Ukheshe and Mindbridge. The Global Fintech Hackcelerator, powered by KPMG Matchi, is a fintech acceleration programme that creates a platform for fintech firms to demonstrate their innovative solutions to complex financial challenges in...

23 Oct 2019

Exchange control risks when moving funds offshore

By Janice Roberts

By Bianca Botes, Treasury Partner at Peregrine Treasury Solutions. Many South Africans are actively looking to move funds offshore, for reasons that range from travel and investing to importing or exporting new products and launching new businesses. But without observing the correct exchange control procedures, you or your business could quickly land in hot water...

19 Sep 2019

Interest rates stability provides consumers and SMEs a window of opportunity: FNB

By Janice Roberts

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 November 2019.

30 Aug 2019

September SARB decision is a close call at best

By Janice Roberts

By Ferhan Salman, Bank of America Merrill Lynch. July inflation surprised to the downside at 4% yoy (vs. the market at 4.3%). Given the global backdrop and event risks, we see nominal rand depreciation continuing. However, the upside risks from rand depreciation are offset by weak growth (weighing on core inflation) and muted imported inflation...