Bank of England Hold interest rates

Bank of England Hold interest rates

The Bank of England has held UK interest rates at 4.75%, warning that Britain's economy is on the brink of stagnation following a combination of global factors, and the UK finance minister's spending plans for the year ahead. Lou Browne has more.

December 20, 2024 10

2

Africa

Zimbabwe urges swift adoption of new but ‘scarce’ currency

Zimbabwe's Finance Minister Mthuli Ncube has ordered all government agencies to accept payments in the newly introduced gold-backed currency amid reports of acute shortage. Ncube in a statement said the Zimbabwe Gold, introduced last month, was now the official unit of exchange for transactions in the country. He the BBC that the government would soon introduce regulations to ensure businesses stick to the official rate.

May 9, 2024 10 2

Business / Economics

Economist weighs in on Bank of Namibia’s policy alignment

Following calls for increased inclusivity in the Monetary Policy Committee of the South African Reserve Bank, we reached out to Cirrus Capital Economist, Robert McGregor for his take.

February 1, 2024 34

Business / Economics

South Africa’s two-pot retirement system faces early implementation amid industry concerns

South Africa’s Parliamentary Standing Committee on Finance has recommended that the so-called two-pot retirement system should be implemented on 1 March 2024, instead of March 2025. According to MoneyWeb, SA’s retirement industry has been caught off guard by the decision with financial service providers expressing concern about system readiness, and arguing that both the South African Revenue Service and the retirement industry need until 2025 to adapt to proposed changes […]

November 22, 2023 9