It is a matter of grave concern that the Reserve Bank has for a second year in a row posted a huge loss. This year the loss is of about 1.2 billion rand which follows last year's loss of about 1.1 billion rand. These losses are motivated by the Reserve Bank's decision to avoid farther artificial appreciation of the rand under the action of speculators. By leaning against the … [Read more...] about The IFP’s Position on the Reserve Banks R1.2 Billion loss
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Banknotes in circulation rise to R72.7bn
Pretoria - The value of banknotes in circulation in the year ended March 2011 increased by 6.41 percent to R72.7 billion from R68.3 billion in the 2009/10 financial year, said the Reserve Bank. This was revealed in the central bank's Annual Report released on Tuesday. "The maximum value of banknotes in circulation of R82.5 billion was reached on 20 December 2010, compared … [Read more...] about Banknotes in circulation rise to R72.7bn
Deputy Governor Guma to leave Reserve Bank
Pretoria - Deputy Reserve Bank Governor Xolile Guma will not renew his contract with the bank when it ends in July this year, said the central bank. Dr Guma's second five-year term in office will expire on 31 July 2011 following 16 years of uninterrupted service, the Reserve Bank said on Thursday. The deputy governor has advised President Jacob Zuma and the board of the … [Read more...] about Deputy Governor Guma to leave Reserve Bank
5.5% Repo Rates Likely to Stay
5.5% Repo Rates Likely to Stay Pretoria - The Reserve Bank's Monetary Policy Committee (MPC) began its two-day meeting with economists on Tuesday 10 May predicting that the repo rate will remain unchanged at 5.5 percent. "Nedbank expects the MPC to keep rates unchanged at 5.5 percent which will keep prime rate at 9 percent," said Nedbank economists. Standard Bank … [Read more...] about 5.5% Repo Rates Likely to Stay
