The Financial Sector Forum
Monetary policy
Statement of the SARB Monetary Policy Committee
The South African Reserve Bank’s Monetary Policy Committee (MPC) has left the repo rate unchanged at 5,0 %. Since the previous meeting of the Monetary Policy Committee, the global growth outlook has weakened further. However, the near-term risks to global financial markets arising from the Eurozone debt crisis seem to have subsided somewhat following the … Continue reading
SARB Quarterly Bulletin
South African Reserve Bank, September 2012. Introduction Global economic growth decelerated in the second quarter of 2012 with activity slowing across a wide range of advanced and emerging-market countries after having surprised on the upside in the first quarter of the year. Concerns around debt sustainability and austerity programmes in the euro area continued to … Continue reading
SARB Quarterly Bulletin
Introduction Concerns about fiscal sustainability in Italy and Spain gave rise to a sharp increase in sovereign yields in the closing months of 2011. These fears and the concomitant loss of confidence were partly arrested by strong policy responses and a simultaneous commitment by European Union (EU) member countries to address the fiscal deficits and … Continue reading
Nedbank: Money supply and credit
02 May. Nedbank Economic Commentary: Money supply and credit. Credit growth is continuing to pick up gradual momentum. Broad money supply growth rose up to 6,7% y-o-y from 5,9% and against the market consensus of 6,4%. Growth in private sector credit extension increased to 9,2% y-o-y from 7,9% y-o-y and against the market consensus of 8,7%. … Continue reading
Nedbank: Money supply and credit
30 Mar. Nedbank Economic Commentary: Money supply and credit. Broad money supply growth eased to 5,9 % y-o-y in February from 6,7 % in January and against the market consensus of 7,0 %. Growth in private sector credit extension rose to 7,9 % y-o-y from 7,3 % y-o-y, buoyed by a pickup in corporate credit … Continue reading
Statement of the SARB Monetary Policy Committee
The South African Reserve Bank’s Monetary Policy Committee (MPC) has left the repo rate unchanged at 5,5 %. Since the previous meeting of the Monetary Policy Committee (MPC) the intensity of the financial crisis in the Eurozone appears to have subsided somewhat, but the very mixed signals indicate that the crisis is not necessarily resolved. … Continue reading
FNB: Interest rate prospects appear stable
FNB Rex Column: Interest rate prospects appear stable. The SARB recently suggested a broadening inflationary pressure, possibly increasingly demand-led. This comes as a bit of a surprise. CPI inflation bottomed 18 months ago near 3%, and has ever since been rising, headline faster than core, led by aggressive increases in food, electricity and petrol. Headline … Continue reading
SARB Quarterly Bulletin
Introduction Economic growth in the advanced economies was disappointingly weak in the second half of 2011 as the sovereign debt crisis continued to plague Europe, dampening confidence levels and economic activity on the continent and beyond. While actions towards stronger fiscal consolidation continued in the interest of fiscal sustainability, in many instances this exacerbated the … Continue reading
Nedbank Weekly Economic Monitor
20 Feb. Nedbank Weekly Economic Monitor: Review of 13 to 17 February and preview of 20 to 24 February 2012. The rand firmed at the end of the week on higher precious metal prices and improved risk appetite. Retail sales rose by stronger than expected 8,7 % y-o-y in December. Moody’s has downgraded some Eurozone … Continue reading
Statement of the SARB Monetary Policy Committee
The South African Reserve Bank’s Monetary Policy Committee (MPC) has left the repo rate unchanged at 5,5 %. Since the previous meeting of the Monetary Policy Committee, the outlook for domestic inflation and economic growth has deteriorated, posing a serious challenge for monetary policy going forward. Inflation is now expected to remain above the upper … Continue reading
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