By Loushe Jordaan Gilbert The argument about whether the South African Reserve Bank (SARB) will cut rates has shifted to how much it will cut rates after consumer inflation dropped to its lowest level in three years last month. According to Stats SA, the annual inflation rate decreased to 4.6% in July from 5.1% in June. It is only ten basis points over the goal midway set by the central […]
By Ragheema Mclean The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) has kept the repo rate unchanged for a third straight meeting. This means that the interest rates that consumers will pay on their credit will remain unchanged for now. This decision, in tandem with economist forecasts, keeps the repo rate at 8.25%, with the prime lending rate at 11.75%, ensuring stability in the interest rates for consumers, […]
Public Protector Busisiwe Mkhwebane conspired with the Presidency to have the mandate of the Reserve Bank changed, the bank stated in a new affidavit filed on Monday. SARB spokesperson Jabulani Sikhakhane confirmed that SARB filed the new affidavit on Monday, in which the bank indicates that Mkhwebane had met with the Presidency and the State Security Agency to amend the Reserve Bank’s Constitutional mandate to protect the currency. EWN reported […]
VOC became the first Muslim radio station in South Africa when a special events license was granted to the station in Ramadan/January 1995. Subsequent temporary broadcast licenses were granted, permitting the station to broadcast for 24 hours.
