South Africa
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 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’
Sarb launches Ponzi scheme awareness campaign
Central bank warns public of Ponzi scheme risks; says it investigates a number of illegal operations each year
Sarb governor discusses response to economic risks
Gill Marcus examines economic risks facing South African economy; says employment target should not be included in bank’s mandate
South African Mint executives leave company for good
Andile Mvinjelwa and Thomas Davel leave South African Mint Company by mutual agreement following conclusion of investigation into poor-quality krugerrand coins
Sarb publishes Monetary Policy Review
South African Reserve Bank Monetary Policy Review notes continuing global uncertainty; central bank decides to maintain repurchase rate of 5.5%
IMF paper assesses welfare effects of monetary integration
Paper considers welfare effect of monetary union in Africa; finds significant benefits due to policy credibility and macroeconomic stability
Sarb paper examines inflation annoucement influence on currency market
South African Reserve Bank working paper examines link between inflation announcements and short-term currency fluctuations in South Africa
Sarb revises growth forecasts upwards for 2012
South African Reserve Bank publishes Financial Stability Review; revises growth estimate upwards
Sarb working paper discusses rand exchange rate
South African Reserve Bank working paper studies factors that influence the exchange rate of the rand as a free-floating currency
Sarb investigation finds low-quality proof Krugerrand coins
Investigation into SA Mint Company uncovers low-quality proof Krugerrand coins may have been casted between April 2011 and May 2011; dealers offered chance to return coins
IMF research links wage growth and unemployment in South Africa
Fund working paper asserts link between wage rate growth exceeding productivity growth and rising unemployment in South Africa
Increased fixed capital formations in South Africa
Latest quarterly bulletin from Sarb strikes optimistic note; chief economist at the central bank says increase in capital spending originates from both private and public sectors
Sarb seeks nominations for board of directors
South African Reserve Bank announces procedure for replacing retiring member of board of directors