The South African Reserve Bank’s Monetary Policy Committee (MPC) announced a 25-basis-point reduction in the repo rate to 7.75% on Thursday. This follows data released on Wednesday, which showed inflation falling to 2.8% in October, below the bank’s target range of 3% to 6%. As a result, the prime lending rate now stands at 11.25%. Economist Dawie Roodt noted that the rate cut was widely anticipated, particularly after the positive […]
By Ragheema Mclean Economists and analysts widely anticipate the South African Reserve Bank (SARB) will lower interest rates by 25 basis points this afternoon (19 September), but some believe a more significant cut could be possible. Recent data from Statistics South Africa shows inflation fell to 4.6% year-on-year in July, down from 5.1% in June. This marks the lowest inflation rate since April 2021. The drop is mainly attributed to […]
By Kouthar Sambo "The reason why the South African Reserve Bank has decided to increase interest rates, is because they want to dampen the demand in the economy, and this is a very blunt instrument. It is going to be very painful and bad for the economy and going to result in slower economic growth.” This is according to Economist Dawie Roodt, who went on to say that lower interest rates […]
The Constitutional Court has granted Public Protector Busisiwe Mkhwebane direct access to challenge the constitutionality of the personal costs order made against her, her office has said. In February, Mkhwebane was ordered by the North Gauteng High Court in Pretoria to pay 15% of the legal costs of the South African Reserve Bank's challenge to her Absa/Bankorp report. The report was set aside by the court, as well as her […]
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.
