Reserve Bank says it is ready to act when US hikes rates
Reserve Bank governor Lesetja Kganyago said on Thursday that monetary policy would respond if the US Federal Reserve rate hike caused second-round effects such as a depreciation of…BDLIVE
Higher interest rates necessary despite low growth, says Kganyago
The Reserve Bank is well aware of SA’s weak economic growth challenges, but has had to lift interest rates to keep inflation from rising significantly in future…BDLIVE
South Africa to respond to second round effects of any U.S Fed hike
South Africa (Reuters) - The South African central bank's inflation target of 3-6 percent target will be breached twice in 2016 with a worsening long-term outlook…SHARENET
SA’s long-term inflation seen at 7% – Kganyago
The South African central bank’s inflation target of 3-6% will be breached twice in 2016 amid a worsening long-term outlook, Governor Lesetja Kganyago said on Thursday…MONEYWEB
SA heading for fiscal slippage
Against the backdrop of a more subdued global economic recovery and muted domestic prospects, National Treasury has had to revise down real GDP growth forecasts between 2015/16 and 2017/18 by…BUSINESS REPORT
The shrinking budget pie
There was plenty of action happening away from the markets on Wednesday, most especially at the Parliament buildings in Cape Town, where not only were antics from the…BUSINESS REPORT
Nene ‘didn’t go far enough’
As an emerging-market country, SA has deep economic challenges. The recent student protests across the country against escalating university fees are testament to the need for economic transformation and resultant higher….BUSINESS REPORT
SA confident it can avoid junk downgrade
Treasury is confident that its mini budget statement will hold off any threat of a ratings downgrade, even after the rand weakened 2% against the dollar on Wednesday…FIN24
Immediate intervention ‘needed to address student protests
An immediate intervention was needed to address students’ protests against fee increases but longer-term solutions were being investigated…BDLIVE
SA will give Brics bank R2bn
The government was going to use R2 billion from the sale of Vodacom shares for South Africa’s initial capital contribution to the New Development Bank (NDB), Finance Minister Nhlanhla Nene said yesterday…BUSINESS REPORT
Chaos rocks Nene’s budget
Fallout from South Africa’s intractable problem of stunted growth and rising social discontent became more apparent yesterday as student protesters stormed Parliament, ratcheting up the chaos that forced…BUSINESS REPORT
What Budget said about universities
A million university students didn’t get what they wanted from Finance Minister Nhlanhla Nene…BUSINESS REPORT
Inflation rate remains unchanged
The annual inflation rate was unchanged in September from the previous month, remaining within the central bank`s target band. The inflation rate was steady at 4.6 percent in the month…BUSINESS REPORT
An upward revision of debt-to-GDP ratio
The downward revision to gross domestic product (GDP), shortfalls in revenue and the weaker exchange rate had led to an upward revision of the debt-to-GDP ratio, Finance Minister Nhlanhla Nene announced in…BUSINESS REPORT
SA piggy bank raided for state pay
It starts with predictions of economic gloom, then moves on to promises of improved finances, admits to raiding the country`s piggy bank and warns public servants to earn their pay. This is the…PRETORIA NEWS
Public sector wage bill crowds out all else
The state will have about R100bn less to spend in the next three years because of the hefty public sector wage increase and lower tax revenue due to weak economic growth…BDLIVE
SA faces downgrade risk with budget marred by protests
South Africa took a step closer to another credit-rating downgrade as a slowing economy forced Finance Minister Nhlanhla Nene to boost debt at the same time that mounting spending pressures fuelled…BDLIVE
‘Buy long-term SA bonds as economy wilts’
South African long-bond yields offer better value than cash and medium-dated bonds in an economy battered by a drop in commodity prices and a weak currency, according to Futuregrowth Asset Management, a unit of Old Mutual…BUSINESS REPORT
The medium-term budget policy in a nutshell
Finance Minister Nhlanhla Nene has managed to keep the ship of state on a steady financial course despite facing strong headwinds of low economic growth, a gloomy global outlook and higher than expected expenditure on…BDLIVE
South African retail sales beat expectations
Retail sales grew above expectations in August, though the outlook for the sector’s quarterly performance remain muted…BDLIVE
Inflation unchanged in September
Annual consumer price inflation was 4.6% in September 2015, unchanged from August 2015, Statistics SA data showed on Wednesday.
The figure was in line with consensus…BDLIVE
Changes to public sector wage negotiations muted
The Treasury is considering radical changes to how public sector wage negotiations are conducted, after concluding a three-year pay agreement in 2015 that has created a R12.2bn hole in the compensation budget…BDLIVE
Cape Town students swarm Parliament over fee increases
Protesting students on Wednesday swarmed Parliament ahead of Finance Minister Nhlanhla Nene’s medium-term budget policy statement…BDLIVE
Nene forecast is downward looking
SA’s leading indicator fell again in August, a stern warning that economic growth over the next few months will be lacklustre and will require policy makers to up their game in…BDLIVE
GDP projections will be focus of ratings agencies
The National Budget and medium-term budget policy statements (mini budget) are about economic growth. The mini budget for 2015/2016, which Finance Minister Nhlanhla Nene delivers this afternoon is no exception…BUSINESS REPORT
Gloomy economy set to vex Nene
When Finance Minister Nhlanhla Nene stands before Parliament this afternoon to deliver the medium-term budget policy statement, the reality of a struggling economy will not be lost on the nation…BUSINESS REPORT
SA property prices set to grow at 7% this year
South Africa’s residential property market was in a “cocoon” and outperforming the general economy, Seeff Properties chairman Samuel Seeff said yesterday…BUSINESS REPORT
Blade Nzimande fails to cut it as students reject his 6%
Students on Tuesday rejected a 6% cap on university fee increases for 2016 announced by Higher Education Minister Blade Nzimande and laid plans for a continuation of nationwide protest action…BDLIVE
US pressures SA to import its chicken
The South African government denied yesterday it had missed a key deadline for resuming US poultry imports. Instead, Sidwell Medupe, a spokesman for the…BUSINESS REPORT
Review finds forex traders out of line
Foreign exchange (forex) dealers were guilty of sharing confidential client information in contravention of regulations, a South African Reserve Bank review has found…BDLIVE
Big forex moves are under scrutiny
Big moves on the foreign exchange (forex) market would now receive more scrutiny from the SA Reserve Bank, deputy governor Daniel Mminele said yesterday…BUSINESS REPORT
Sarb publishes first draft of forex code of conduct
The South African Reserve Bank today (October 19) released the first draft of a foreign exchange code of conduct – though the body that wrote it found no evidence of malpractice or "serious misconduct" in the market…CENTRALBANKING
Brave thinking must free us from debt
The real test of Minister of Finance Nhlanhla Nene’s medium-term budget policy statement (MTBPS) will be whether he gives hope to the 8.4 million people who do not have jobs and who live without…BUSINESS REPORT
SA’s budget targets at risk
South African finance minister Nhlanhla Nene may be forced to abandon his budget-deficit targets as economic risks mount, straining the nation’s credit rating as it hovers above junk…BUSINESS REPORT
Barefoot on a hot tin roof
Poor, poor Nhlanhla Nene. What a fix he is in. Those who watch his mini-budget speech on Wednesday afternoon will witness one of the good men of the Jacob Zuma cabinet paddling furiously to make the books balance…TIMESLIVE
Treasury ‘certain’ additional R64bn wage cost can be accommodated
The Treasury was "certain" that the additional R64bn that this year’s wage agreement will cost the state over the next three years can be accommodated within current expenditure limits…BDLIVE
Slump knocks Shoprite shares
Shoprite Holdings saw its share price slide 6.33% to close at R148.80 on Monday after it said its core South African customer base was under pressure from job cuts in the mining industry…BDLIVE
Metal prices slide hammers Anglo American
Anglo American, the second-worst performer in the UK’s benchmark stock index this year, fell the most in three weeks in London trading on…BDLIVE
Dealers ‘shared information’
A South African panel established to investigate the country’s foreign-exchange markets found that some of the nation’s Authorised Dealers inappropriately shared confidential client…BUSINESS REPORT
Market regulation: SARB sees room to improve
A year-long investigation into the domestic foreign exchange market found no evidence of misconduct or malpractice on the part of major banks…BUSINESS REPORT
SARB says room to improve market regulation
A year long investigation into the domestic foreign exchange market found no evidence of misconduct or malpractice on the part of major banks, South Africa’s central bank said on…MONEYWEB
South Africa cenbank will scrutinise big moves in forex market: deputy governor
Big moves on the foreign exchange market will now receive much more scrutiny from South Africa's central bank, deputy Governor Daniel Mminele said on Monday…SHARENET
South African Probe Finds Currency Traders Shared Details
A South African panel established to investigate the country’s foreign-exchange markets found that some of the nation’s Authorized Dealers inappropriately shared confidential client information, and recommended laws be changed to…BLOOMBERG
Shoprite hit by economic woes
Shoprite Holdings, South Africa’s biggest food retailer, said first-quarter sales growth slowed as unemployment of 25 percent, job cuts in the mining industry and rising electricity costs reduced demand from…BUSINESS REPORT
Students protest at top universities over fee hikes
Thousands of students rallied at top South African universities on Monday in protest at plans to hike tuition fees, extending a spate of campus unrest that has included demonstrations against colonial-era statues and the language of…MONEYWEB