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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: 17:36

Capetown:

Temp.: 29 °C / 84 °F
Wind: S / 14 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 (18th Nov 2009): Rates still unchanged

News-Archive


Rates still unchanged - 18th Nov 2009

Newly appointed SARB Governor Gill Marcus yesterday announced no change to interest rates, following a two day meeting of the Monetary Policy Committee.

Though there was a tremendous change in presentation style, there was none in policy substance.

The Governor presented her MPC team upfront and it was clear that wide-ranging discussions had taken place to come to the policy decision that was unanimously taken.

Thus there is a clear sense of institutional continuity that no doubt will be widely welcomed by financial markets.

As to the actual decision of leaving interest rates unchanged, it very much focused on the level and behaviour of inflation over the coming year, and the risks to this outlook.

The Governor described CPI inflation as likely hovering around 6% through the coming two years, probably just with the 3%-6% target zone, going by the MPC statement.

The Governor repeatedly emphasized in her presentation that the risks to the inflation outlook were balanced, which by inference was presumably the reason for keeping rates unchanged.
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