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Tag: South African Reserve Bank (SARB)
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.
Few currencies matched the rand’s turbulence in 2017, with factors such as Trumpenomics, the firing of finance minister Pravin Gordhan and the appointment of Cyril Ramaphosa as ANC president, contributing to the R2.04 price swing during the year.
While South African citizens temporarily working overseas are still subject to South African tax laws, individuals who wish to permanently emigrate to a new country need to ensure that they follow the correct steps to enable them to take their savings with them and avoid running up against unnecessary tax problems down the line.
The draft Bill aimed at shoring up struggling banks violates the 'rule of law' by authorising unequal treatment without identifying objective differences to justify it. In addition, in dispensing with equal treatment merely because someone at the SA Reserve Bank, without objective criteria, determines that such action is necessary.
South Africa’s banking sector is increasingly moving towards a ‘marketplace without boundaries’, shaped by the fast-approaching entry of new digital players challenging the status quo in the market, and driving unprecedented levels of innovation.
After becoming aware of an increase in payroll deductions in the past years, the South African Reserve Bank (SARB) and National Treasury have engaged in discussions with stakeholders on the creation of a regulatory framework to govern payroll deductions. The proposal was open for public comment until 30 April 2018.
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) meets on 26 - 28 March 2018 to deliberate an interest rate...