SARB’s interest rate pause provides relief, but MPC will remain alert to inflation risks, says FNB

--:--
GUEST – Mamello Matikinca-Ngwenya - FNB Chief Economist

Following the South African Reserve Bank’s (SARB) decision to keep its benchmark repo rate unchanged, FNB will keep its prime rate at current levels and will review this position after the next SARB MPC meeting in November.

FNB Chief Economist Mamello Matikinca-Ngwenya says, “The MPC left interest rates unchanged for the second consecutive meeting, supporting our and the consensus view that the 50bps hike implemented in May was the final lift for the current cycle. This is consistent with slower headline inflation, which has supported a softening in inflation expectations while wage growth expectations remain subdued. Therefore, tighter lending conditions and weak demand should at least assist with containing demand-driven inflation, even as the headline reflects some supply-side pressures.
21 Sep 2023 5PM English South Africa Business News · Investing

Other recent episodes

Trade industry & competition to prioritise masterplan implementation

GUEST – Zuko Godlimpi - Deputy Minister of The Department of Trade, Industry & Competition The Department of Trade, Industry & Competition (DTIC) will prioritise sector-specific masterplan implementation, re-industrialisation and economic transformation during the seventh administration.
10 Jul 3PM 16 min

FNB survey reveals that nearly 50% of South Africans don’t have a retirement plan

GUEST – CEO of Wealth & Investments at FNB, Bheki Mkhize. The 2024 FNB Retirement Insights Survey, released today, offers a glimpse into the current state and evolving dynamics of pre- and post-retirement planning in South Africa. In its second year, the in-depth research reveals persistent challenges around retirement in…
10 Jul 3PM 15 min

Moody's downgrades Kenya's credit rating, what this means for the country?

GUEST – Dr Rutendo Hwindingwi – Fouding Director at Tribe Africa Advisory Moody's has downgraded Kenya's debt rating further into junk territory and warned the outlook was negative after a wave of protests led the government to abandon proposed tax hikes. President William Ruto, facing the most serious crisis of…
10 Jul 3PM 12 min

Consumer Tribunal fines two used car dealers and orders R1 million refund.

GUEST – Prudence Moilwa – Head of complaints and investigations at the National Consumer Commission. The National Consumer Tribunal has fined two car dealers and ordered one of them to repay a consumer R1 million after hearing the cases brought by the National Consumer Commission. Secondhand cars are often a…
9 Jul 3PM 20 min

Funds pays benefit to fraud syndicate whilst real member was in prison

GUEST – Muvhango Lukhaimane – Pensions Fund Adjudicator Funds pays benefit to fraud syndicate whilst real member was in prison Whilst the actual member was serving a prison sentence, a pension fund paid out a benefit of more than R800 000 to a syndicate that was involved in identity theft…
9 Jul 3PM 22 min