South Africa
South Africa hikes rate as inflation outlook deteriorates
South African Reserve Bank lifts key rate by 25bp to 6% on a 4-2 vote; Kganyago outlines concerns over potential for a exchange rate-inflation spiral in wake of Fed hike
Sarb adopts recruitment and career development plan
Annual report reveals new ‘workforce plan’ at South African Reserve Bank aimed at identifying the skill-sets it will need over the next five years and how to acquire them
Sarb deputy wary of weaker currency with inflation rising
Daniel Mminele warns any ‘significant weakening’ in the South African rand in response to a Federal Reserve rate hike could cause inflation outlook to deteriorate
WEF panel in Africa values sound public policy over money
Outgoing African Development Bank president Donald Kaberuka says good policy crucial to development; World Bank vice-president Makhtar Diop says financing costs unfairly high
Central banks face weight of expectations in sub-Saharan Africa
The art of central banking has changed dramatically in frontier markets. Monetary policy, financial regulation, capital flows and exchange rate are now centre stage, writes Louis Kasekende
Sarb expands risk management framework
The risk management framework of the South African Reserve Bank now includes policy risks and will soon include financial stability policy, reveals deputy governor
Stronger dollar will pose challenges for South African economy, says Mminele
"Rising interest rates in the US would have an adverse impact on borrowing costs, while a weaker euro would limit external demand for South African exports,” says Sarb deputy governor
Mozambican central bank balances food import pressures with domestic industry concerns
Bank of Mozambique holds interest rates as it comes under pressure over the value of its currency; accused of artificially propping up the value of the metical
PBoC continues leadership reshuffle
Two assistant governors appointed at the People’s Bank of China; swap lines agreed with Australian and South African counterparts
South African MPC member named deputy governor
Adviser to governor and MPC member Kuben Naidoo will assume post on April 1; central bank kept benchmark rate unchanged yesterday despite ‘deterioration’ in inflation outlook
Sarb deputy governor fears for oil-exporting countries
The positive and negative shocks of falling oil prices are ‘asymmetric’ and the impact on oil-exporting countries could ‘elevate’ global financial stability concerns, warns Groepe
South African Reserve Bank reflects on forecasts
Latest monetary policy review analyses the central bank's inflation forecasts between 2003 and 2014, finding they 'marginally' outperform outside efforts
Sarb launches investigation into forex traders
Central bank joins growing list of regulators concerned by potential for misconduct among foreign exchange market practitioners
Kganyago picked to succeed Marcus as Sarb governor
Deputy governor Lesetja Kganyago says he ‘will not disappoint’ as next Sarb governor; Gill Marcus says the appointment ‘reflects the depth of talent and skill’ in the central bank
Sarb governor Gill Marcus to step down
Governor of South African Reserve Bank will leave when her term expires in November; move came as a surprise to many market watchers
South Africa’s central bank opens investigation on African Bank business
The investigation will determine if ’any business of African Bank was conducted recklessly, negligently or with the intent to defraud depositors’, the central bank says
Brics nations launch development bank and reserve fund
Brazil, Russia, India, China and South Africa launch new institutions to fill the gaps left by the World Bank and IMF; Observers see challenges ahead
Sarb says advanced economy tapering will cause ‘protracted period of volatility'
South African Reserve Bank says monetary policy normalisation in the US and elsewhere will cause a protracted period of volatility in emerging markets like South Africa
Sarb forecasts further impact from Fed taper
Financial stability review highlights domestic risks that could ‘amplify’ the impact of US monetary policy on the South African economy
South African banks fined $12m over lax money laundering controls
Standard Bank is fined $5.7 million and three other banks given smaller penalties over failure to implement required processes that would prevent customers from laundering money or financing terror
South African Reserve Bank shares set to hit the market
A significant number of shares in South Africa's central bank are expected to go on sale later this year after the ‘regularisation' of ‘certain shareholdings'
Price-setters still expect Sarb to miss inflation target
The South African Reserve Bank has succeeded in persuading analysts it will keep inflation within its target band, but price-setters' expectations remain higher
Sarb hits out at ‘blatant misrepresentation’ ahead of South Africa elections
Central bank refutes claims by Democratic Alliance that Sarb models indicate support for the party’s economic policies; central bank calls for nominations to three non-executive directorships
Interest rates best transmit South African monetary policy, say researchers
New Sarb paper analyses five transmission channels for a monetary policy shock, finding interest rates to be the strongest, and asset prices the weakest