Tag: Monetary Policy Committee (MPC)

The South African Reserve Bank (Sarb) Monetary Policy Committee (MPC) kept interest rates steady at 3.5% at the scheduled September 2020 interest rate-setting meeting despite downwardly revised growth and inflation views. This decision tied in with the view of 15 out of the 25 analysts surveyed by Reuters, while we were one of the ten favouring a 25-basis point cut.

A sharp fall in the rate of consumer price inflation has defanged what was initially paraded as 'aggressive' monetary policy action intended to stimulate the floundering economy. Given a muted inflation outlook, and the depressed economic setting, the question is not if the South Africa’s Reserve Bank’s Monetary Policy Committee (MPC) will cut interest rates this week, but rather by how much?

The South African Reserve Bank (SARB) Monetary Policy Committee (MPC) is meeting again - 21 July 2020 to 23 July 2020 - to discuss policy matters. The central bank lowered interest rates by a cumulative 275 basis points in the year so far, most recently making a 0.5 percentage point cut in lending rates on May 21.

The Monetary Policy Committee (MPC) once again unanimously voted in favour of lowering the repo rate this month, although 2 out of the 5 members preferred a shallower cut. In a vote of 3 to 2, the MPC decided to lower the repo rate by 50bp to 3.75%.

In response to the COVID-19 emergency, the South African Reserve Bank (Reserve Bank) and the South African financial sector regulators, the Prudential Authority and the Financial Sector Conduct Authority (FSCA), have implemented several mitigation measures to support the economy and companies.

The Monetary Policy Committee (MPC) unanimously decided to decrease the repo rate by 100 basis points to 5.25%. This somewhat unprecedented move was a direct result of the deterioration in economic conditions due to the COVID-19 pandemic experienced in South Africa and across the globe.

tructural reforms urgently needed as annual growth drops to 0% y-o-y. Statistics South Africa (StatsSA) reported on June 4 that the South African economy contracted by 3.2% quarter-on-quarter (q-o-q) during the first quarter of 2019 – the biggest decline in 10 years.

With a unanimous decision, members of the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) voted on 17 January to keep interest rates unchanged, in line with analyst expectations. This follows an interest rate hike of 25 basis points (bps) in November 2018, which brought the repo and prime lending rates to 6.75% and 10.25%, respectively.

Members of the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) meet from 15 to 17 January to decide a suitable interest rate stance that sees inflation settle in the middle of the 3% – 6% target range.

The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) meets on 26 - 28 March 2018 to deliberate an interest rate...