Sarb’s Mminele calls for action on benchmark reforms

Elske Photography

It is of “utmost importance” to start preparing for the interbank interest rate transition now instead of adopting a “wait-and-see” approach, said Daniel Mminele, deputy governor of the South African Reserve Bank, at the Risk South Africa Conference in Cape Town on October 23.

In the speech, Mminele highlighted a series of reforms that the Sarb is considering for the Johannesburg Interbank Average Rate (Jibar) and the South African Benchmark Overnight Rate (Sabor). The reforms seek to “anchor”

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