By Ragheema Mclean The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) has kept the repo rate unchanged for a third straight meeting. This means that the interest rates that consumers will pay on their credit will remain unchanged for now. This decision, in tandem with economist forecasts, keeps[…]
South African Reserve Bank Monetary Policy Committee member and head of economic research and statistics, Rashad Cassim, has said the Reserve Bank has done much good for South Africa’s economy, but the structural economic problems that pervade South Africa are beyond its power. Cassim was speaking in Cape Town on[…]
Public Protector Busisiwe Mkhwebane conspired with the Presidency to have the mandate of the Reserve Bank changed, the bank stated in a new affidavit filed on Monday. SARB spokesperson Jabulani Sikhakhane confirmed that SARB filed the new affidavit on Monday, in which the bank indicates that Mkhwebane had met with[…]
Mines Minister Mosebenzi Zwane reportedly recommended to Cabinet a drastic change to the Banks Act that would allow the finance minister to control bank licences. This formed part of an inter-ministerial committee he led to investigate why South Africa’s top banks blacklisted the Gupta family, who are friends with President[…]
Following complaints that commercial banks are looting cash into ghost accounts, the South African Reserve Bank made transparent its findings for unrecorded transactions at The Monetary Policy Review 2016, which was hosted at the Westin Hotel. Commercial banks report that bank personnel could not be held responsible for the financial[…]
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