South African Reserve Bank (Sarb)
South African review charts motivations behind resumption of tightening cycle
One of three chief considerations was the path of exchange rate and the risks it posed to inflation, which increased as the year went on
Sarb raises rate 25bp now to avoid bigger move later
Increasing risk of inflation spurs the South African Reserve Bank to raise its key rate by 25 basis points to 6.25%; two out of six MPC members preferred not to move
Sarb’s Mminele fears a ‘lengthening drought’ in emerging market capital flows
Sarb deputy warns emerging market nations must maintain “utmost vigilance” as they are buffeted by the effects of divergent monetary policies and fears about the state of the Chinese economy
Research assesses South Africa’s vulnerability to Fed hike
Countries with large ratios of external financing needs to foreign exchange could be more vulnerable to Fed rate hikes, working paper finds
Sarb ready to deploy countercyclical buffer from January
South African Reserve Bank says countercyclical capital buffer is ready but not yet needed, in latest financial stability report
Kganyago defends bank’s inflation targeting regime
South African Reserve Bank governor insists striving to meet an inflation target is not the same as ignoring growth, in speech in Cape Town
Sarb publishes first draft of forex code of conduct
New code of conduct proposed for South African foreign exchange over-the-counter market, though official review finds no evidence of malpractice
South Africa aims to launch electronic trading platform this year
A deputy governor of the South African Reserve Bank announces electronic trading platform could be launched in the coming months
South African deputy looks to fill gaps in resolution setup
Francois Groepe highlights main elements of proposals for a new resolution framework in South Africa; particular emphasis on creating a deposit guarantee scheme
South African central bank open to currency intervention
Chinese devaluation stokes fears of further currency falls in economy vulnerable to exchange rate shifts
Sarb research updates forecasting model
Refinements to central bank’s semi-structural general equilibrium model aim to better reflect the South African economy over the inflation-targeting period
Sarb governor airs concerns over inflation expectations
Lesetja Kganyago says the five-year inflation expectations of analysts, business people and trade unionists are ‘uncomfortably close’ to top end of inflation target
South Africa hikes rate as inflation outlook deteriorates
South African Reserve Bank lifts key rate by 25bp to 6% on a 4-2 vote; Kganyago outlines concerns over potential for a exchange rate-inflation spiral in wake of Fed hike
Sarb adopts recruitment and career development plan
Annual report reveals new ‘workforce plan’ at South African Reserve Bank aimed at identifying the skill-sets it will need over the next five years and how to acquire them
Sarb deputy wary of weaker currency with inflation rising
Daniel Mminele warns any ‘significant weakening’ in the South African rand in response to a Federal Reserve rate hike could cause inflation outlook to deteriorate
Sarb expands risk management framework
The risk management framework of the South African Reserve Bank now includes policy risks and will soon include financial stability policy, reveals deputy governor
Stronger dollar will pose challenges for South African economy, says Mminele
"Rising interest rates in the US would have an adverse impact on borrowing costs, while a weaker euro would limit external demand for South African exports,” says Sarb deputy governor
PBoC continues leadership reshuffle
Two assistant governors appointed at the People’s Bank of China; swap lines agreed with Australian and South African counterparts
South African MPC member named deputy governor
Adviser to governor and MPC member Kuben Naidoo will assume post on April 1; central bank kept benchmark rate unchanged yesterday despite ‘deterioration’ in inflation outlook
FSB adds new emerging market members
Five new institutions join Financial Stability Board as part of efforts to improve emerging market representation; Glenn Stevens takes over as standing committee chair from Agustín Carstens
Central Banking awards 2015: photo gallery
Jacques de Larosière was the 'guest of honour' at the Central Banking awards, which saw Raghuram Rajan, Reserve Bank of New Zealand, Sarb, Czech National Bank and Bank of Canada taking top honours
Sarb deputy governor fears for oil-exporting countries
The positive and negative shocks of falling oil prices are ‘asymmetric’ and the impact on oil-exporting countries could ‘elevate’ global financial stability concerns, warns Groepe
Kganyago: Sarb taking ‘pause’ in normalisation
South African Reserve Bank holds repurchase rate at 5.75%, but monetary policy committee agrees the ‘lower inflation path’ creates the chance to ‘pause’ its tightening cycle
The winners of the Central Banking Awards 2015
Raghuram Rajan wins Governor of the Year while Reserve Bank of New Zealand picks up Central Bank of the Year; Jacques de Larosière honoured with Lifetime Achievement Award; 12 more awards announced