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SARB

South Africa's rand rallies to near 18-month peak, stocks rise

South Africa's rand rallies to near 18-month peak, stocks rise

Published 21 May, 2021 09:21pm
  • Rand was 0.21% firmer at 13.9400 against the dollar, trading at its strongest levels since late December 2019.
  • "The combination of higher domestic yields and falling FX volatility is making the rand more attractive as a carry currency."
South African central bank holds rates, but ready to act on inflation

South African central bank holds rates, but ready to act on inflation

Published 20 May, 2021 09:00pm
  • The unanimous decision by policymakers was in line with market forecasts, but the more hawkish tone struck by Reserve Bank (SARB) Governor Lesetja Kganyago was a noteworthy change.
  • Headline consumer price inflation increased to 4.4% year-on-year in April, a touch shy of the mid-point of the bank's target range of 4.5%, and its highest level since February last year, data showed on Wednesday.
South African central bank chief: low inflation key to recovery, maintaining foreign flows

South African central bank chief: low inflation key to recovery, maintaining foreign flows

Published 22 Apr, 2021 07:58pm
  • The interest rate differential that matters for capital flows isn't the differential of the policy rate. What matters is the differential of the bond yields, and South African bond yields are still significantly higher than those is in the U.S and in real terms.
  • Data from the Johannesburg Stock Exchange (JSE) this week showed foreign investors have sold nearly 30 billion rand ($2.10 billion) of government bonds year-to-date.
South Africa's electricity, water price hikes pose risk to inflation outlook: central bank

South Africa's electricity, water price hikes pose risk to inflation outlook: central bank

Published 14 Apr, 2021 08:30pm
  • "These risks, should they materialise, could drive headline above the 4.5% target midpoint and possibly dislodge inflation expectations away from the midpoint," the bank said in its bi-annual Monetary Policy Review (MPR).
  • The South African Reserve Bank (SARB) targets consumer price inflation of between 3% and 6%, and the rate stood at 2.9% in February.
South African central bank holds repo rate at 3.5pc

South African central bank holds repo rate at 3.5pc

Published 25 Mar, 2021 08:31pm
  • The Reserve Bank (SARB) has now kept rates on hold at its last four meetings, resisting pressure to match rate hikes by other emerging market central banks.
  • South Africa's consumer inflation rate slowed to 2.9% in February, a touch below consensus, its lowest in eight months and below the central bank's target range of between 3% and 6%
South Africa's central bank to hold repo at record low through 2021

South Africa's central bank to hold repo at record low through 2021

Published 18 Mar, 2021 06:06pm
  • The economy contracted 7.0% last year despite the Reserve Bank cutting interest rates by a cumulative 300 basis points to counteract the damage caused by pandemic-led lockdowns.
  • All but one economist out of 25 polled in the past week said the Reserve Bank would hold interest rates at 3.5%. The lone voice predicted a 25 basis points cut next week.
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