The Reserve Bank’s Monetary Policy Committee has decided to cut the interest rate by 25 basis points.
President Cyril Ramaphosa has announced the re-appointment of Lesetja Kganyago as Governor of the South African Reserve Bank for a five-year term.
An economic justice organisation has called for the role of the Reserve Bank to be scrutinised.
President Cyril Ramaphosa and Deputy Minister of Finance, David Masondo, have met with the board of the South African Reserve Bank (SARB) to discuss vacancies in the executive leadership of the central bank.
The Reserve Bank’s Shiwa Mazibuko has told the state capture commission in Johannesburg that the central bank froze the accounts of the Gupta linked company, Homix, which was said to have facilitated a transaction between Transnet and Neotel.
Former President, Kgalema Motlanthe, has weighed-in on the recent public spat by senior members of the African National Congress (ANC ) over the expansion of the Reserve Bank’s mandate.
President Cyril Ramaphosa says the recent public spats on the Reserve Bank’s mandate have undermined the confidence of citizens and investors and were unhelpful.
The African National Congress has urged senior members who have criticised its statement on the expansion of the Reserve Bank mandate to raise their concerns within the structures of the organisation.
Economists say markets will rely on how the South African Reserve Bank and the Ministry of Finance respond to the on-going debate on the mandate of the Reserve Bank.
Finance Minister Tito Mboweni says Ace Magashula’s announcement of expanding SARB’s mandate will destabilise an already volatile market.