Africa
Former SARB deputy governor to advise Mboweni
The Reserve Bank of South Africa said Monday 3 July that governor Tito Mboweni has appointed former deputy governor Xolile Guma as his special adviser.
Comment: Talking points in June
June has been a particularly eventful one for many emerging markets, with talk of increase risk aversion and reduced international liquidity driving a reversal of market sentiment towards emerging market currencies. The month also saw some important…
SARB's Quarterly Bulletin, June 2006
The South African Reserve Bank published its June 2006 Quarterly Bulletin on 22 June. According to the latest Bulletin, the fortunes of exporters of oil and other commodities continued to be bolstered by buoyant prices fetched by these products in the…
Central banks and the challenge of development
The BIS has published papers presented at a special meeting of central bank governors held in Basel, 14-15 March 2006. For the first time in more than 30 years, there has been a marked revival of growth in much of Africa, and inflation has been brought…
Comment: Uganda eyes inflation target
The Bank of Uganda will implement an inflation-targetting framework in the near future, the governor of the central bank, Emmanuel Tumusiime-Mutebile, told CentralBankNews.com. Only a lack of adequate and timely data is holding it back.
Comment: In defence of inflation targeting
Writing in the Financial Times this week, Wolfgang Munchau suggests that the "end of inflation targeting is in sight". Munchau points to the shortcomings of the Swedish inflation targeting regime, and draws universal lessons from it. A number of…
African central bank sells gold
A private Saudi jeweller has bought 36 tonnes of raw gold from an African central bank for 1.8 billion riyals, a company spokesman was quoted by Reuters as saying on Monday 22 May, confirming a newspaper report.
Plenderleith to be named Sanlam director - report
According to a report, the South African life assurance and financial services giant Sanlam has proposed making former South African Reserve Bank (SARB) deputy governor Ian Plenderleith an independent non-executive director.
Comment: Emerging market jitters
Emerging markets equities, bonds and currencies have been under severe pressure over the last two weeks. The turning tide will leave a number of central banks uncomfortable, particularly as the favourable conditions of the last 2 and 3 years has actually…
Macroeconomic policy challenges conference, Oct 06
The South African Reserve Bank invites you to attend its conference on Macroeconomic Policy Challenges for South Africa to be held from 22 - 24 October 2006.
SARB Monetary Policy Review, May 2006
The South African Reserve Bank published its Monetary Policy Review for May 2006 on Thursday 11 May. Forecasts suggest that the inflation outlook has improved significantly, and there is evidence that inflation expectations and wage settlements are…
SARB launch Vision 2010 for payment system
The South African Reserve Bank (SARB) on Thursday 20 April launched a document containing strategic guidelines for the national payment system.
SARB's Quarterly Bulletin, March 2006
The South African Reserve Bank published its March 2006 Quarterly Bulletin on 23 March. According to the latest Bulletin, a relatively benign international economic environment contributed to the improved prospects facing the South African economy in…
SARB slows forex buying
The Reserve Bank of South Africa slowed its buying of US dollars to $345m last month from $1,289bn in January, figures published Tuesday showed.
SARB's Mboweni blasts 'know-it-all' IMF
South African Reserve Bank governor, Tito Mboweni, slammed the IMF and World Bank on Tuesday 28 February for what he called their high handedness and know it all approach when dealing with developing countries.
Comment: Zimbabwe's mystery repayment
Two weeks ago the Zimbabwean government managed to avoid expulsion from the IMF by paying off a large chunk of its debt to the Fund. However, the source of the forex-depleted government's finances remains a mystery.
SADC central banks meet in Malawi
Central banks from the Southern Africa Development Corporation (SADC) region are meeting at Ryalls Hotel in Malawi's commercial city of Blantyre to devise new laws that would be used as a benchmark for the standardization of central banks.
Emerging market reserves grow in January
Recent data show significant increases in foreign exchange reserves in a number of emerging market economies in January. The Philippines gross international reserves hit an all-time high of $20.504 billion at the end of January on fresh government…
SARB's Mboweni highlights inflation risks
The South African Reserve Bank last week left the repurchase rate unchanged at 7%, but governor, Tito Mboweni, cautioning that robust domestic demand together with oil and food prices posed potential risks to the inflation outlook.
New book on South Africa from the IMF
The International Monetary Fund has published a new book entitled, "Post-Apartheid South Africa: The First Ten Years". The authors, Michael Nowak and Luca Ricci, argue that "in successfully navigating the transition from apartheid to democracy, the…
Nigeria's Soludo to speak on global economy
The Central Bank of Nigeria Governor, Prof. Charles Soludo, will speak on the global economy on January 24, at the World Economic Forum in Davos, Switzerland.
SARB's Quarterly Bulletin, December 2005
The South African Reserve Bank has released its December 2005 Quarterly Bulletin. According to the latest Bulletin, the world economy continued to enjoy robust economic growth in the first three quarters of 2005 and is likely to register real growth of…
BCEAO governor named as Cote D'Ivoire PM
The governor of the Central Bank of West African States (BCEAO), Charles Konan Banny, has been named the new Prime Minister of the Cote D'Ivoire, formerly known as Ivory Coast.
Comment: Risks facing buoyant South Africa
As is the case in many emerging market economies, South Africa is yet to escape the perception that its economic fortunes are to a large extent dependent on the performance of its currency.