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News Highlight
19th Jan 2012

Interest Rate remains unchanged!

The South African Reserve Bank left its repo rate unchanged at 5.5% on Thursday as expected, with concerns about a slowing economy off-setting the pressures from inflation, which is likely to stay outside its target band for longer than previously expected.

At its first policy meeting of 2012, the bank raised its inflation forecast, saying it expected inflation to be outside its 3-6% target range throughout 2012, with the recent depreciation of the rand being the main ...[MORE]

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Exchange Rates

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Rates are compliment of the ECB and will be updated once a day on weekdays only.

Date & Weather

Date: 04.02.2012
Time: 18:12

Capetown:

Temp.: 29 °C / 84 °F
Wind: S / 13 kn
Sunrise: 05:43
Sunset: 20:15

Johannesburg:

Temp.: 19 °C / 66 °F
Wind: VRB / 3 kn
Sunrise: 05:19
Sunset: 19:22
IBN News (24th Mar 2009): Further Rate Cut

News-Archive


Further Rate Cut - 24th Mar 2009

The South African Reserve Bank's Monetary Policy Committee (MPC) on Tuesday decided to reduce the repo rate by 100 basis points to 9.5%.

This was in line with consensus expectations and takes the prime overdraft rate in South Africa to 13% from 14% before, and will usher in significant relief for cash-strapped consumers.

South African Reserve Bank Governor, Tito Mboweni, said that the decision was based on an improved medium-term outlook for inflation and the volatile global environment.
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