Cirrus Capital’s Groenewald Offers Insight on Central Bank’s Interest Rate Decision

Cirrus Capital’s Groenewald Offers Insight on Central Bank’s Interest Rate Decision

The Bank of Namibia In October lowered its main interest rate, citing a faster-than-anticipated decline in inflation and the need for economic support. At that point in time, the Monetary Policy Committee unanimously agreed to reduce the repo rate by 25 basis points, bringing it to 7.25%. Cirrus Capital economist Tannan Groenewald shares his outlook on what the Bank might do next. ENG Tannan Groenewald repo

December 4, 2024 11

Business / Economics

Bank of Namibia Set to Announce New Repo Rate

With the Bank of Namibia’s repo rate decision set for later today, consumers are preparing for potential changes to borrowing costs and savings. The central bank maintained the repo rate at 7.25% during its last monetary policy update. Cirrus Capital economist Robert McGregor noted that while GDP growth is positive, private sector credit extension continues to lag.

December 4, 2024 18

Opinion Pieces

AI offers hope for quantitative investing

Wednesday, 20 November 2024 - The future of quantitative investing is going to be shaped by Artificial Intelligence. Quantitative investment strategies can identify better opportunities and leverage into those using mathematical models with the use of sophisticated algorithms. Quantitative investing applies a mathematical model and algorithms to determine investment opportunities. About half of quantitative investors have implemented AI in their processes for investing. However, just 10% of those are actually […]

November 21, 2024 6

Africa

Mozambique’s Dollar Bond Drops Amid Election Dispute Unrest

Mozambique's dollar bond declined for a third consecutive day as unrest over disputed election results intensified. The country's eurobond, CNBCAfrica indicates, maturing in 2031, fell by 0.58 cents, with total losses surpassing two cents since Friday. Opposition candidates claim the October 9 election was rigged, with final results expected this week.

October 24, 2024 6

Business / Economics

September Sees Global Interest Rate Cuts to Stimulate Economic Growth

September was a significant month in the global financial landscape, with major economies such as the United States, European Union, China, South Africa, and Namibia implementing interest rate reductions. These cuts came after a prolonged period of low economic growth and were largely anticipated by markets as a strategy to stimulate economic activity and lower borrowing costs. Almandro Jansen: Simonis Storm Economist.

October 24, 2024 18

Business / Economics

South Africa’s Reserve Bank keeps repo rate unchanged

The South African Reserve Bank's Monetary Policy Committee has decided to keep the repo rate unchanged at 8.25 percent. This keeps the prime lending rate in SA at 11.75 percent. SARB Governor Lesetja Kganyago.

March 27, 2024 52

Africa

Binance to stop transactions in Nigeria

Binance, the world's largest cryptocurrency exchange, is ending all transactions and trading in Nigeria's local currency after 8 March 2024. This after Nigeria clamped down on the global crypto exchange, blaming it for feeding a black market for foreign exchange. Ajeck Mangut reports from Abuja.

March 6, 2024 19

Business / Economics

Ripples of 2023: FBS’s insight on the 2024 global financial outlook

With 2023 coming to an end, leading global broker FBS looks back at the significant economic events and delves into the perspective of the financial landscape in 2024. FBS financial market analysts point out that next year, financial markets will stand at the cusp of transformation under the influence of the US economy, global and local military conflicts, and the sprawl of AI. As FBS experts further stress, the cautious stance […]

December 19, 2023 5

Business / Economics

The Bank of Namibia considers banking sector resilience buffer

The Bank of Namibia is considering adding a counter-cyclical capital buffer to improve resilience in the banking sector. This buffer, a macroprudential policy tool, recognises the dynamics of financial markets and economic activity. Its purpose is to strengthen banks against potential losses during economic stress periods. BoN Governor Johannes !Gawaxab says the central bank will begin consultations with the industry regarding the buffer's implementation.

December 18, 2023 13