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Tag: South African Reserve Bank (SARB)
There are many reasons why South African tax residents undertake to cease tax residency through the financial emigration process. One of the reasons is that a successful financial emigration provides one with the rare opportunity to fully encash your policy funds.
The concept of platforms is nothing new. Our railways, phone networks and even our shipping industry are all examples of networks which operate under agreed universal standards and can be described as platforms. Today, we participate on tech platforms every day when we use services like Airbnb and Uber or shop on eBay and Amazon.
Despite perceiving the overall risks to CPI as on the upside, all five members of the Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3.5%. The repo rate has been on this level since 23 July 2020.
In the world of low interest rates, Inflation Linked Bonds (ILB) offer a compelling proposition for money market funds. The millions of articles written about the impact of COVID-19 can’t begin to do justice to the damage wrought to individuals, society, and the economy.
The global economic landscape has undergone a seismic shift since the arrival of COVID-19 over a year ago. However, while the pandemic caused significant business challenges, it also triggered and accelerated many innovations as organisations adapted to change, often simply to survive.
All five members of the Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3,5%. It has been on this level since 23 July 2020. The MPC viewed the overall risks to the Consumer Price Index (CPI) outlook to be on the upside compared to balanced in the March 2021 statement. This means the MPC’s interest rate outlook is more hawkish.
With an economy in the doldrums, South Africans are increasingly looking to make use of business and investment opportunities offshore. However, it’s important to note that as a South African resident, you are subject to certain exchange control regulations.
Against the backdrop of easing lockdown restrictions and a reassuring National Budget, the South African Reserve Bank’s (SARB) decision to keep the repo rate unchanged provides further impetus for more sustainable economic activity.
The bank is taking a cautious approach due to pandemic uncertainty but says payouts may resume as early as June. Nedbank won't be paying a final dividend for 2020 after rising credit impairments, fewer transactions and falling interest rates resulted in a big decline in full-year earnings. But it is confident that payouts will resume this year.