SA shifts to monthly schedule for rate moves

The South African Reserve Bank's rate-setters will vote once a month for the remainder of the year after the central bank announced it was doubling the frequency of its meetings for 2009.

Tito Mboweni, the governor of the Reserve Bank, said on Wednesday that the Monetary Policy Committee (MPC) would now attend two-day rate-setting meetings every month for the rest of the year bar July. The committee usually meets six times a year.

"The move allows the Reserve Bank the option of front-loading