The Bank of Japan has introduced negative interest rates in a bid to spur growth and prop up the world’s third-largest economy. Tokyo shares surged following the surprise announcement. The Bank of Japan said Friday that it had decided to impose a negative interest rate of 0.1 percent on current[…]
Last night the rand dropped to a record low of R17, 99 to the US dollar during what’s been described as erratic trade on Asian markets. However, according to Efficient group chief economist, Dawie Roodt the Asian markets are not the only thing contributing to a weaker rand. “There are[…]
With the backdrop of the weak Chinese and recovering U.S. markets, South Africans may have to get use to the idea of their own currency’s strength declining further during the course of 2016. The rand fell to a new low earlier this week when it dropped more than 1% to[…]
The best way in which South Africa can emerge from its current economic woes is if the South African Reserve Bank remains independent, particularly from state institutions. This is according to Dr Adrian Saville, chief strategist at Citadel, who says that the successes or failures of the Reserve Bank will[…]
A special Cabinet meeting to discuss the country’s economic climate has been postponed, the Presidency said on Friday. Last Friday, Minister in the Presidency Jeff Radebe announced that a special meeting of Cabinet’s economics cluster would be held to discuss various issues, including credit ratings. The Presidency said in a[…]
Following the surprise axing of Nhlanhla Nene as finance minister on Wednesday, there has been a large outcry from the public, media and analysts, who believed President Jacob Zuma’s decision could push the country into economic “junk” status. During his political career Zuma has faced a litany of accusations and[…]
Europe’s aging economy may just find that the biggest refugee crisis since World War Two gives it a new lease of life – even if huge uncertainty about the future scale of immigration and how refugees are integrated cloud any long-range forecasting. With winter approaching, the dramatic flow into Europe[…]
Chinese stocks have tumbled another 6.41 percent on the opening of its markets on Tuesday, extending Monday’s nine percent plunge. The stock market falls follow China’s move to devalue its currency earlier this month and have triggered global fears that all is not well in the world’s second-biggest economy. Al[…]
The ebola virus, economic decline in some countries, and South Africa’s new immigration regulations are to blame for the drop in tourist arrivals to South Africa, Grant Thornton Advisory Services said on Monday. About 150 000 fewer tourists visited South Africa in the first quarter of the year compared to[…]
The Egyptian government’s offer of a seven Egyptian pound ($1) bonus payment for the Muslim holy month of Ramadan has sparked widespread ridicule among Egyptians on social media. The country’s Minister for Supplies Khaled Hanafi said on Monday that he hoped the amount would help Egyptians buy what they needed for[…]
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