The South African Reserve Bank (SARB) today launched a refresher campaign, marking 12 months since the introduction of the new series of Mandela Banknotes on 6 November 2012. To coincide with this anniversary, SARB has introduced a new security feature in the form of little dots that will now appear on the front and back of all Mandela banknotes. "Enhancing features on banknotes is an on-going process to maintain the highest level of quality and security. This is in line with international … [Read more...] about Refresher campaign on Mandela Banknote series
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Business Welcomes Interest Rate Decision
Business has welcomed the Reserve Bank's decision to keep the repo rate at 5.5 percent. The central bank on Thursday, following its first meeting of the year, decided to keep rates as is. "BUSA [Business Unity SA] shares the overall economic assessment offered by the Bank today and on a balance of risks, BUSA supports the decision to leave interest rates unchanged as being an acceptable one in the circumstances." BUSA also agreed with the Reserve Bank that the current economic recovery … [Read more...] about Business Welcomes Interest Rate Decision
Repo Rate Unchanged at 5.5 percent
South Africans hoping for another rate cut will be disappointed to learn that the central bank has kept rates unchanged at 5.5 percent. "The MPC has therefore decided to keep the repurchase rate unchanged at 5, 5 percent per annum. At this stage there are no signs of incipient excess demand in the economy, and unless there are significant unexpected changes in the global or domestic outlook the monetary policy stance is expected to remain relatively stable for some time," Reserve Bank … [Read more...] about Repo Rate Unchanged at 5.5 percent
CPI Marginally Down in December
The Consumer Price Inflation in December fell marginally to 3.5 percent, Statistics South Africa (Stats SA) said on Wednesday. December 2010 CPI was 0.1 percent lower than November's 3.6 percent. In December, prices rose by 0.2 percent, mainly due to higher fuel prices and rent costs. Although December's figure came close to market expectation, Nedbank economist Carmen Altenkirch said the favourable figure is not likely to sway the Reserve Bank in favour of cutting interest rates when it … [Read more...] about CPI Marginally Down in December
