South Africa
Sarb’s Mminele calls for action on benchmark reforms
There is a considerable amount of work to be done before the transition, Daniel Mminele warns
Sarb’s Groepe says inflation could rise further without policy action
South African Reserve Bank plans five hikes of 25bps by 2020
Investigation takes aim at KPMG for mishandling South African bank
“Looting” of troubled VBS would not have been as bad had auditor acted lawfully, report finds
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
Former Sarb governor assumes finance minister role
Tito Mboweni succeeds Nene but opposition party questions his “radical views”
Inflation proves worrisome for Sarb MPC
Governor stresses central bank has inflation target range and not a specific point; MPC leaves interest rates on hold
Which emerging markets are in the firing line?
Some instability from Turkey and Argentina has spilled elsewhere, but not all emerging markets are under threat
Sarb’s Groepe says cyber security must be adaptable to changing landscape
It is “essential” for financial institutions to have “agile and responsive” practices in place, deputy says
Sarb’s Mminele says IT investment could help African cities grow
South African deputy governor encourages investment in both human and physical capital
Changes in interest rates impact richest 20% more than the poor – Kganyago
South African governor says microloans are shaped by factors other than monetary policy
South African governor warns against nationalisation
Call comes as Sarb’s senior lawyer accuses government ombudsman of lying under oath
South African central bank predicts higher inflation and more rate rises
Inflationary pressures are rising, Sarb says
Failed bank depositors to gain unrestricted access to funds – Sarb
Around 97% of retail depositors will be paid in full, the central bank says, as investigation into mismanaged bank continues
South African central bank puts cyber security on strategic agenda
Sarb says it has put “base infrastructure” for security incident technology in place
Sarb should adopt mid-point in inflation target band – IMF
Inflation expectations could be lowered with the explicit adoption of a mid-point at an “opportune time”, fund says
Sarb says blockchain project exceeds expectations
System has capability to process twice the number of transactions as the current RTGS system
Reserve Bank of Zimbabwe crypto asset ban overturned by court
Court rules in favour of Golix, Zimbabwe’s largest crypto exchange, after Reserve Bank officials fail to show up at hearing
Rising global debt puts pressure on emerging markets, says Mminele
Sarb deputy notes a strengthening dollar puts emerging markets with large dollar liabilities at risk
US ‘normalisation’ should be manageable for emerging economies – Powell
Turkey and Argentina grapple with weaker currencies as US Treasury yields rise
Short-selling behaviour can cause financial instability – Sarb report
Short-selling of Capitec Bank stock could have caused financial instability, Sarb says, but quick action stemmed crisis
Kganyago on central bank independence and future plans for the IMFC
The South African Reserve Bank governor spoke with Christopher Jeffery at the Central Banking Awards about the South Africa’s new president, the importance of operational independence and key targets for the IMFC
South Africa’s ‘twin peaks’ regulatory model goes live
Sarb takes control of prudential regulation and new conduct regulator opens its doors
Sarb alters interest rate forecasts to extend easing
Central bank sees three 25bp hikes between now and 2021
Upgraded Moody’s outlook puts Sarb rate cut bank on the menu
Lower inflation and an appreciating rand mean the South African Reserve Bank could cut rates at its meeting next week, but analysts think it might be too soon