Key South African rate needs urgent reform – Sarb deputy governor

The South African Reserve Bank
Elske Photography

Urgent reform is needed to bring the Johannesburg Interbank Average Rate in line with new standards for key lending benchmarks, the deputy governor of South Africa’s central bank has warned.

“At a fundamental level, it is unsustainable that at least 40 trillion rand [$2.75 trillion] worth of financial contracts are priced off a three-month reference rate derived from daily indicative prices of a market that, on average, is underpinned by only 66 million rand worth of transactions,” said the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: