South African Reserve Bank: No Interest Rate Change Satisfies Expectations

July 18, 2013

The last cut the South African repo was implemented a year ago in July 2012.  The decrease of 50 basis points to a 40+ year low of 5.0% culminated a ten-step 700-basis point easing from 12.0% prior to December 2008. South African officials remain constrained by weak economic growth on the one hand and a […] More

An Unexpected South African Rate Cut With a Lesson for the Euro

March 25, 2010

The South African Reserve Bank (SARB) cut its repo rate to 6.5% from 7.0% in a move that was not foreseen by analysts.  Since the prior rate hike last August, which also was by 50 basis points, the central bank’s monetary policy committee had met four times — in September, October, November and January — […] More