South African Reserve Bank (Sarb)
IMF and Sarb push for stronger systemic supervision in Africa
Joint effort to highlight importance of macro-prudential approach in addition to scrutiny of individual institutions; IMF pushing for tighter supervision
China uses Brics summit to further RMB internationalisation
South Africa and Brazil sign deals with PBoC to 'strengthen economic relations' between Brics nations
People: ADB chief named BoJ front-runner; Bulgarian governor ‘cannot' run for PM
Haruhiko Kuroda widely expected to succeed governor Shirakawa next month; Bulgarian governor ineligible to lead interim government
South Africa governor outlines ‘upside' inflation risks
Sarb governor expects inflation to breach target range but immediately return; explains decision to hold rates
People: New deputies for New Zealand and Ukraine central banks
Reserve Bank of New Zealand hires top statistician as deputy governor; National Bank of Ukraine continues leadership team shake-up
FSB endorses South African reform efforts
First peer review under new guidelines praises South African plans for ‘twin peaks’ regulators and tighter OTC derivatives rules; implementation still presents obstacles
South Africa moves toward UK-style ‘twin peaks’ regulators
Sarb issues consultative document on introduction of prudential and conduct regulators similar to plans in the UK; IMF study encounters problems in testing efficacy of macro-prudential policy
Sarb hires head of new international relations department
Legal professor Daniel Bradlow will lead a new department at South African Reserve Bank designed to co-ordinate and direct its participation in international forums
Sarb’s Mminele highlights risks to emerging markets from QE
Daniel Mminele says unconventional monetary policy has complicated policy-making for emerging market central banks
Sarb seeks to improve interbank rate governance
South African central bank says review of Jibar has revealed interbank rate is ‘fundamentally sound’, but produces code of conduct to improve rate-setting process
FSA’s Turner warns emerging markets not to repeat West’s mistakes
UK Financial Services Authority head warns public officials in emerging markets to beware bank lobby groups and their story of the limitless benefits of finance
Sarb deputy says domestic woes are impacting growth
South African Reserve Bank deputy governor says domestic issues, including labour strikes, are dictating price and exchange rate concerns; growth rate likely to need downward revision
South African governor seeks non-monetary integration
Gill Marcus talks about the importance of regional integration but believes this should not be pursued through monetary arrangements
Sarb paper establishes new inflation measure
South African Reserve Bank research reveals alternative measure of core inflation; designed to remove elements of ‘noise’
Sarb creates new position to streamline support services
South African Reserve Bank announces appointment of a chief operating officer; from November 1 Pradeep Maharaj will be responsible for all support services at the central bank
Sarb reveals details of new banknotes
South African Reserve Bank initiates national campaign about introduction of new banknotes; currency bearing image of Nelson Mandela will be in circulation by end of year
Sarb chief economist announces early retirement
Monde Mnyande leaves South African Reserve Bank after 17 years of service; served on MPC and Financial Stability Committee
Impending drop in economic growth, warns South African research
South African Reserve Bank working paper uses new model to analyse financial conditions; finds conditions have declined and threaten GDP growth
South African paper assesses micro data and policy responses
Sarb working paper explores pricing conduct at a micro-data-set level and how this affects monetary policy; finds results diverge from Bayesian estimation techniques
Sarb’s Marcus discusses developments in central bank communication
Gill Marcus says communication has become ‘fundamental’ to central bank strategy, but suggests there are limits to usefulness of transparency
Sarb annual report notes ‘pedestrian’ growth days after rate cut
Annual economic report shows South African output ‘losing some momentum’ in 2012; follows 50bp rate cut by central bank
Sarb reveals new non-executive director
Firoz Cachalia is appointed as a non-executive director to the board of the South African Reserve Bank; takes up new position on July 16
Brazil and South Africa agree supervisory co-operation
Central Bank of Brazil and South African Reserve Bank sign MoU to promote banking supervision; clears the way for domestic banks to build businesses in both markets
Sarb makes $60m loss due to costs of forex intervention
South African Reserve Bank suffers loss in fiscal year 2011/12 due to cost of forex activities; governor describes economic challenges in coming year as ‘daunting’