South African Reserve Bank (Sarb)
Sarb rejects nationalisation plan
Sarb says nationalising the central bank would increase uncertainty in an already “fragile economic situation”
Sarb closes branches to optimise cash management
Inefficiencies prompt central bank to close three of its branches, while remaining three are ‘converted’ into cash centres
Sarb rejects postponement calls from public prosecutor
Central bank does not accept Mkhwebane’s latest court request; claims her reasoning is false and “overly exaggerated”
Confidence key for South Africa’s economic recovery – Kganyago
Consumer confidence has been “sapped”, but governor remains optimistic nation can “turn things around” by implementing investor-friendly policies
Too soon to start celebrating economic improvements, says Mminele
Sarb deputy warns against complacency in latest economic roundup, saying it is too soon to start celebrating lower inflation and a more stable external environment
Rand still at risk despite recovery – Mminele
Sarb deputy warns against complacency as risks to exchange rate linger on the horizon; both internal and external threats remain
Sarb concerned with KPMG audits in South Africa
Auditor reshuffles local leadership and carries out investigation, but may lose major clients
Sarb returns to court amid secret meeting claims
New court documents allege South Africa’s public protector might have had “ulterior purpose”; secret meeting with presidency revealed
Sarb deputy says current ‘implicit’ deposit protection is ‘risky’
South Africa’s resolution framework one step closer to revamp; deputy governor says current ‘implicit’ deposit protection not sufficient
Sarb gains greater regulatory oversight
President Zuma signs ‘twin peaks model’ into law, granting central bank powers to mitigate risk and shore up financial stability
Sarb expands financial supervision
Deputy governor explains the Sarb’s new financial supervisory structure, and indicates it may affect central bank independence
Court dismisses ‘irrational’ Sarb mandate challenge
Judge finds South African public protector’s attempt to change the Sarb’s mandate was illegal, irrational and unfair
Sarb denies fintech firms have joined ‘sandbox’
South African central bank denies claims a blockchain start-up has been accepted into the scheme, as it does not currently exist; a working group is in discussions on feasibility
Kganyago: monetary policy can't solve South Africa’s structural issues
Governor defends mandate, saying Sarb is focusing on what it “can do”, not “what it would like to do”; no “narrow focus”
Sarb takes action amid ‘extremely weak’ demand
Central bank revises down its forecasts as economic situation deteriorates; governor warns of possible cliff effect if there are further rating downgrades
Kganyago says public protector’s response was ‘not good enough’
Response to central bank’s challenge exposed Mkhwebane’s “own lack of competency”, Sarb governor says, reiterating that the central bank’s mandate should be “left alone”
Public protector backs down over Sarb mandate challenge
Mkhwebane admits she lacks power to suggest parliament make changes to the constitution, though she stands by her call for a review of the Sarb’s mandate
Change in ownership would not impact mandate, Sarb reassures
South African central bank responds to ruling party discussion on nationalisation; draft resolution could be approved in December, forcing over 660 people to sell their shares
Open letter condemns public protector’s Sarb comments
Mkhwebane’s comments pose “grave threat” to South Africa’s economy, academics and economists warn, though they are open to mandate debate as long as it is “appropriate”
Sarb to increase engagement on monetary policy
Governor says central bank officials should be the ones to outline “sensible” view of monetary policy; wants debate over mandate to be based on facts
Sarb appeals to court in battle to defend mandate
Kganyago stresses public protector’s words have had a “serious and detrimental effect on the economy”; her recommendations risk “further downgrades”, he says
South African governor rejects calls to change mandate
Public protector calls for the central bank to drop the defence of the value of the rand
Sarb monetary policy committee does not suffer from ‘groupthink’ – Kganyago
Sarb governor says there are often disagreements when it comes to policy decisions; central banks have now become “masters of communication”
Sarb’s Kahn: current conditions ‘do not bode well’ for economy
Kganyago’s advisor says political uncertainty is likely to continue throughout 2017 with no clear sign business or consumer confidence will improve