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<p>Joining CNBC Africa for a post-MPC panel analysis is Annabel Bishop, Chief Economist, Investec, Koketso Mano, Senior Economist for FNB and Reza Ismail, Head of Bonds at Prescient Investments.</p>


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Post-MPC Analysis: Kganyago keeps rates on hold

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<p>The South African Reserve Bank&#8217;s Monetary Policy Committee sat for its second meeting of the year and voted unanimously decided to keep the repo rate unchanged at 8.25 per cent. Reserve Bank Governor, Lesetja Kganyago explains the rationale behind the committee&#8217;s decision.</p>


SARB keeps repo rate unchanged at 8.25% (full speech)

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<p>Joining CNBC Africa for a post-MPC panel analysis is Annabel Bishop, Chief Economist, Investec, Johann Els, Chief Economist, Old Mutual and Carmen Nel, Head of Multi-Asset Strategy, Terebinth Capital.</p>


Post-Analysis: SARB keeps rates on hold

<p><iframe loading="lazy" src="https://www.youtube.com/embed/BOc1jKzPBjE" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>The South African Reserve Bank&#8217;s Monetary Policy Committee sat for its first meeting of the new year and voted unanimously decided to keep the repo rate unchanged at 8.25 per cent. Reserve Bank Governor, Lesetja Kganyago explains the rationale behind the committee&#8217;s decision.</p>


Kganyago keeps repo rate unchanged at 8.25% (full speech)

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<p>At this year&#8217;s WEF meetings, South Africa is determined to establish itself as a thriving technological hub, enabling development through technological advancement and centering innovation at its core of governance and operations.</p>


DAVOS 2024: Focus On the development and progress of South African banking

<p><iframe loading="lazy" src="https://www.youtube.com/embed/Am1lHPdqxdE" width="640" height="360" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>In its final meeting of the year, the South African Reserve Bank’s Monetary Policy Committee voted unanimously decided to keep the repo rate unchanged at 8.25 per cent. Reserve Bank Governor, Lesetja Kganyago explains the rationale behind the committee&#8217;s decision.</p>



<ul><li>Digital rand at least a few years away, says deputy governor</li></ul>



<ul><li>Cen bank digital currency likely only for wholesale purposes</li></ul>



<ul><li>SARB hopes crypto assets could be regulated within 15 months</li></ul>



<ul><li>Regulation to prevent theft, fraud, undermining SARB authority</li></ul>



<p>By Rachel Savage and Promit Mukherjee</p>



<p>LONDON/JOHANNESBURG, May 18 (Reuters)&nbsp;&#8211;&nbsp;A digital rand in South Africa could cut the high cost of cross-border payments for banks but its introduction is still a few years away, a senior central bank official said.</p>



<p>However, regulation of crypto assets&nbsp;is in the offing and might come into force within nine to 15 months, South&nbsp;African&nbsp;Reserve Bank (SARB) Deputy Governor Kuben Naidoo told Reuters in an interview.</p>



<p>It costs 13% of a transaction to remit money from South Africa to another country, more than double the average of the Group of 20 (G20) leading global economies, according to a 2021&nbsp;<a href="https://remittanceprices.worldbank.org/sites/default/files/rpw_main_report_and_annex_q421.pdf" target="_blank" rel="noreferrer noopener">World Bank report</a>.</p>



<p>Sending money to South Africa costs 6.2%.</p>



<p>Some countries are planning to introduce e-versions of traditional currency, known as central bank digital currencies (CBDCs) and are studying how the underlying technology could be used.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2X13EL&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a><a href="https://www.reutersconnect.com/all?search=all%3AL2N2W922S&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>China&#8217;s digital yuan project is the most advanced among large economies, though central banks from the&nbsp;euro zone&nbsp;to the United States are in varying stages of research into CBDCs.</p>



<p>Last year, Nigeria&#8217;s central bank introduced an eNaira for use by ordinary citizens.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2RL4J4&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>South Africa has conducted small-scale experiments with a wholesale CBDC and participated in a cross-border pilot with the central banks of Malaysia, Australia and Singapore.</p>



<p>The next stage is for regulators to test the digital rand at a bigger scale and develop rules for its use.</p>



<p>&#8220;We&#8217;re still learning, we&#8217;re still experimenting,&#8221; Naidoo said.</p>



<p>Meanwhile, Naidoo said the South&nbsp;African&nbsp;Reserve Bank wants regulation of crypto assets to prevent theft, money laundering and undermining of monetary policy and hopes it will be in place in the next 15 months.</p>



<p>&#8220;If crypto assets were to become a very ubiquitous currency, you could undermine the authority of the central bank,&#8221; he said.</p>



<p>(Reporting by Rachel Savage and Promit Mukherjee; Editing by Lisa Shumaker)</p>


South African Economy As Inflation Rate Rises For First Time In 2017

S.African central bank eyes digital rand to cut cross-border payment costs

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<p>The South African Reserve Bank  kept borrowing costs unchanged, in a bid to support economic recovery and growth. The repo rate has been left at 3.5 per cent for the sixth straight meeting, in line with market expectations. Isaah Mhlanga, Chief Economist at Alexander Forbes joins CNBC Africa for more.</p>


Sarb keeps rates on hold in line with market expectations

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<p>There’s much anticipation about this afternoon’s monetary policy announcement with consensus showing that there is unlikely to be changes to borrowing costs. The rand has been slightly stronger this morning ahead of the interest rate announcement. which may be a good sign. Joining CNBC Africa for more is Miyelani Maluleke, Economist at Absa Corporate and Investment Banking and Siphamandla Mkhwanazi, Economist at FNB.</p>


Economists expect Reserve Bank to keep repo rate unchanged

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<p>Is it time to re-imagine South Africa&#8217;s inflation targeting regime? CNBC Africa&#8217;s Godfrey Mutizwa asked Intellidex Head of Research Peter Attard Montalto if it&#8217;s time to shake things up.</p>


Is it time for the SARB to broaden its mandate beyond inflation targeting?

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<p>South Africa’s Central Bank has kept interests rates on hold, as it continues to support economic recovery. Although the bank expects inflation to be contained this year, it says it stands ready to act, if it goes beyond unwelcome levels. Joining CNBC Africa for that conversation is Nthabiseng Moleko, Development Economist at the University of Stellenbosch Business School and Annabel Bishop, Chief Economist at Investec.</p>


Economists react to SARB’s interest rate decision

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<p>The South African Reserve Bank&#8217;s Monetary Policy Committee has kept the repo rate steady at 3.5 per cent. This, as the economy is still exceptionally weak. The Central Bank says that one of the risks to the economic growth outlook is the slow rollout of Covid-19 vaccines. Herman van Papendorp, Head of Investment Research &#038; Asset Allocation at Momentum Investments joins CNBC Africa for more.</p>


SARB keeps rates unchanged

SARB keeps rates unchanged, here’s what that means for the economy

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<p>Reserve bank governor Lesetja Kganyago, will deliver an address on the decisions of the bank’s Monetary Policy Committee. The jury is still out on whether they will make any changes. Just yesterday CPI for February came in lower at 2.9 per cent. Investec Chief Economist, Annabel Bishop joins CNBC Africa for more.</p>


Bell

MPC Meeting: What will the Sarb decide?

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<p>The Reserve Bank’s Monetary Policy Committee is meeting tomorrow, higher electricity tariffs and inflation tariffs are said to be on the agenda. But will they make any changes?</p>


ND24

Why this economist thinks the SARB should widen its mandate to tackle socio-economic challenges

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<p>Keeping interest rates unchanged, South Africa&#8217;s Reserve Bank Governor Lesetja Kganyago said that monetary policy continues to be accommodative; adding that it continues to support economic growth. He added, however, that the country needs to cultivate prudent economic conditions and structural reforms. Joining CNBC Africa for that conversation is Annabel Bishop, Chief Economist at Investec and Johann Els, Chief Economist at Old Mutual Investment Group.</p>


Economists unpack Kganyago’s rate decision & economic outlook for 2021

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<p>The first Monetary Policy Meeting for the year is underway. In a Reuters poll conducted last week, the majority of Economists forecasted that the repo rate would remain unchanged and a small minority predicted a rate cut of 25 basis points. In the last meeting of 2020, rates remained steady, after the Reserve Bank cut rates by 300 basis points during the year. Arthur Kamp, Chief Economist at Sanlam Investments joins CNBC Africa for more.</p>


First MPC meeting of 2021: What will the SARB do?

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<p>Capitec’s headline earnings per share dropped 78 per cent, as the bank suffered from the effects of COVID-19.</p>


SARB

Post-MPC Analysis: Kganyago keeps rates on hold

SARB keeps repo rate unchanged at 8.25% (full speech)

Post-Analysis: SARB keeps rates on hold

Kganyago keeps repo rate unchanged at 8.25% (full speech)

DAVOS 2024: Focus On the development and progress of South African banking

Kganyago keeps repo rate unchanged at 8.25% (full speech)

S.African central bank eyes digital rand to cut cross-border payment costs

Sarb keeps rates on hold in line with market expectations

Economists expect Reserve Bank to keep repo rate unchanged

Is it time for the SARB to broaden its mandate beyond inflation targeting?

Economists react to SARB’s interest rate decision

SARB keeps rates unchanged, here’s what that means for the economy

MPC Meeting: What will the Sarb decide?

Why this economist thinks the SARB should widen its mandate to tackle socio-economic challenges

Economists unpack Kganyago’s rate decision & economic outlook for 2021

First MPC meeting of 2021: What will the SARB do?

Capitec reports 78% drop in headline earnings due to COVID-19

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SARB

Post-MPC Analysis: Kganyago keeps rates on hold

SARB keeps repo rate unchanged at 8.25% (full speech)

Post-Analysis: SARB keeps rates on hold

Kganyago keeps repo rate unchanged at 8.25% (full speech)

DAVOS 2024: Focus On the development and progress of South African banking

Kganyago keeps repo rate unchanged at 8.25% (full speech)

S.African central bank eyes digital rand to cut cross-border payment costs

Sarb keeps rates on hold in line with market expectations

Economists expect Reserve Bank to keep repo rate unchanged

Is it time for the SARB to broaden its mandate beyond inflation targeting?

Economists react to SARB’s interest rate decision

SARB keeps rates unchanged, here’s what that means for the economy

MPC Meeting: What will the Sarb decide?

Why this economist thinks the SARB should widen its mandate to tackle socio-economic challenges

Economists unpack Kganyago’s rate decision & economic outlook for 2021

First MPC meeting of 2021: What will the SARB do?

Capitec reports 78% drop in headline earnings due to COVID-19

News Tips

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