Reserve Bank Governor Lesetja Kganyago says permanently lower inflation, fiscal consolidation, and reduced country risk could cut interest rates and create space for sustainable growth.
Old Mutual’s Johann Els says rising personal inflation could quietly erode household finances and retirement savings – making it vital to save early and more.
The Reserve Bank’s repo rate cut by 25bps to 7% signals the start of a more accommodative cycle as inflation remains firmly under control.
The Minister of Finance’s bailout plan for Ithala’s retail depositors has drawn sharp criticism from KZN’s Finance MEC Francois Rodgers, who warns the deal’s fine print could leave the province footing a hefty bill.
Having reached the target of 4.5% with ‘little or no cost’, Lesetja Kganyago argues that South Africa can achieve permanently lower inflation and interest rates.
Governor Lesetja Kganyago says the central bank will remain committed to reining in inflation if a new government spends more and the deficit increases.
Bank Zero’s chief executive agrees that the Corporation for Deposit Insurance has the potential to boost the competitiveness of the new digital banks.
The President also renews the terms of two deputy governors and appoints Mampho Modise to replace Kuben Naidoo.
The governor of the Reserve Bank also says he is confident the country will get off the grey list in 2025.
Notifications
