South Africa
Mboweni on economic developments & monetary policy
In a speech on 'Economic developments and monetary policy' given on 22 July, Tito Mboweni of the South African Reserve Bank said that the bank still believes that an inflation-targeting monetary policy framework allows an independent central bank to…
SARB's Mboweni reappointed for new term
Tito Mboweni, the South African Reserve Bank governor, says he will aim for lower inflation during his next term in office. Mboweni's contract was renewed for a further five years by President Thabo Mbeki on Friday 23 July.
Mboweni discusses his future with Mbeki
South African Reserve Bank governor Tito Mboweni is currently in discussions regarding his future at the SARB, a government spokesman said. Mboweni's current contract is due to expire at the end of next month.
SARB Bank Supervision Dep't Annual Report 2003
The South African Reserve Bank on 15 July published its Bank Supervision Department Annual Report for the year ended 2003. The year was somewhat less turbulent for the South African financial system and banking sector than the preceding two years, the…
SARB's Mboweni at the University of Pretoria
In a speech given on 8 July Tito Mboweni of the South African Reserve Bank emphasised that the bank has a vision of responsible and effective monetary policy formulation and continually strives to be an institution of excellence and innovation.
SARB's Marcus makes abrupt departure
Gill Marcus, deputy governor of the South African Reserve Bank, left her post on 30 June at the end of her five year contract, in a move local press reports described as unexpected.
S. African treasury and cb to co-ordinate policies
The South African treasury and the Reserve Bank have signed a memorandum of understanding to ensure there was no conflict between their different approaches to fiscal and monetary policies, Lesetja Kganyago, the new director-general of the treasury said…
SARB Financial Stability Review, March 2004
The South African Reserve Bank has published the first edition of its Financial Stability Review for March 2004. This explains some of the approaches used in both a quantitative analysis of the various financial-stability indicators and a qualitative…
SARB removes apartheid's forex overhang
South African Reserve Bank governor Tito Mboweni said on Monday 1 March that the SARB last month closed out its oversold forward book to eliminate a structural overhang in the economy caused by apartheid.
IMF reports no exact cause to rand collapse
IMF economists have concluded that no clear answer existed for the rapid depreciation of the South African rand between September and December of 2001.
Sources of exchange rate fluctuations in S Africa
IMF Working Paper on the "Sources of Nominal Exchange Rate Fluctuations in South Africa" published December 2003.
SARB MPC cuts repo rate by 50 points to 8%
The South African Reserve Bank has cut interest rates to 8 per cent, reports Business day. This brought the total amount of rate cuts to 550 basis points since the first cut this year was announced on June 12.
Mboweni says price stability is SARB's aim
South African Reserve Bank governor Tito said on Monday 1 December that price stability remains the central bank's core objective, according to Finance 24. "Monetary policy will continue to focus on the objective of price stability" and the outlook for…
SARB increases dollar buying
The South African Reserve Bank said in a statement released on Friday 28 November that it increased its purchase of US dollars during November, Business Africa reports. SARB governor Tito Mboweni emphasised that these operations represented normal…
SARB's inflation targeting made simpler
Changes have been made to the South African Reserve Bank's inflation target making the central bank's task easier, Governor of the SARB, Tito Mboweni said, reports Finance 24. In future it will target the year on year CPIX rate on a continuous basis,…
Mboweni sees bumpy road to African central bank
South African Reserve Bank governor Tito Mboweni has struck a cautious note on the idea of a single African currency, reports All Africa News. He pointed out in a recent speech that intra-continental trade was extremely disappointing, thereby making it…
SARB's Mboweni on African economic integration
In a speech on 'African economic integration' given on 9 October, Tito Mboweni of the South African Reserve Bank said that there is little doubt that there have been major changes in economic policy in many African countries in the recent past. Many of…
SARB cuts repo rate by 1.5%
With effect from Friday 17 October, reports Business Africa, the South African Reserve Bank will cut its main repo rate to 8.5 percent, Tito Mboweni said at the end of the two-day meeting by the SARB's Monetary Policy Committee on Thursday.
Mboweni against Africa's single currency proposal
SARB governor Tito Mboweni has said he is against the idea of the rand being adopted as Africa's single currency when the African Monetary Union is established, according to a report by SABC News. Mboweni said it would be much better to start afresh,…
Mboweni reviews the SARB and its activities
In the speech 'Review of the Central Bank and its Activities: 1998 - 2003. A Preliminary Assessment' given on 29 September Tito Mboweni of the South African Reserve Bank said that over the past five years many challenges were faced head-on by the Bank…
Mboweni calls for central bank independence
Speaking on Saturday 4 October, the Governor of the South African Reserve Bank Tito Mboweni said "It is absolutely important that monetary policy and the power to create money are entrusted to central banks". According to Marketplace News, he said…
Mboweni calls for clarity on SARB's duties on rand
Tito Mboweni has called for the South African Reserve Bank's constitution to be changed so that the central bank's objectives can be clarified, according to a report by Business Day. Mboweni insisted that the bank's primary objective was to achieve price…
Tito Mboweni addresses threats to inflation target
South African Reserve Bank Governor Tito Mboweni said on Friday 26 September, according to Finance 24, that the SARB still had much to do to conquer inflation expectations in the country, which at between 8% and 9% were currently far higher than the…
SARB appoints Kruger as registrar of banks
Errol Kruger will replace Christo Wiese as registrar of banks in South Africa from 1 October, Dow Jones reports. As registrar, Kruger will be responsible for ensuring the soundness of banks and banking groups registered in South Africa.