Monetary Policy

SA Reserve Bank eyes third consecutive rate cut

The South African Reserve Bank (SARB) is expected to lower the benchmark interest rate by 25 basis points to 7.5% on Thursday, marking the third consecutive rate cut. The decision, expected to be unanimous among the six-member monetary policy committee, comes as the central bank navigates economic uncertainty driven by global factors. Governor of the SARB, Lesetja Kganyago Governor Lesetja Kganyago will announce the […]

30 January, 2025

Business / Economics

BOJ keeps rates unchanged

Japan’s central bank is leaving interest rates unchanged in a move widely expected by the market. Its chief, Kazuo Ueda, says a lack of clarity over wage trends and uncertainty over the U.S. economy is behind the decision. Chris Gilbert reports from Tokyo:

20 December, 2024

Business / Economics

US Fed cuts interest rate for third time in 2024

The US Federal Reserve has reduced interest rates by another quarter of a percent, its third consecutive cut of 2024. However, the central bank has signaled just two cuts in the coming year. Nick Harper reports from Washington.

19 December, 2024

Business / Economics

Bank of Namibia Affirms Financial Stability Following Recent Review

Naufiku Hamunime, the Acting Director of Strategic Communications and International Relations, shared updates from the Bank of Namibia’s Macro Prudential Oversight Committee. After their December 5th meeting, she confirmed that the financial system remains stable, with both banking and non-banking sectors maintaining sufficient capital and liquidity to handle potential losses.

13 December, 2024

Africa

Botswana’s Central Bank Holds Interest Rate Steady

CNBCAfrica reports that Botswana’s central bank has decided to keep its main lending rate at 1.90% on Thursday, citing expectations that the economy will remain below capacity and not generate inflationary pressures due to a downturn in the global diamond market. This marks the second consecutive meeting where the rate has been left unchanged. The rate is applied through a seven-day instrument.

6 December, 2024

Business / Economics

The Bank of Namibia reduces the repo rate

Consumers can expect some relief as the Bank of Namibia has lowered the repo rate by 25 basis points, bringing it down to 7%. This marks the central bank’s final rate decision for the year. Here is BoN Governor Johannes !Gawaxab speaking at today’s monetary policy announcement. Cirrus Capital economist, Robert McGregor reacts to the development.

4 December, 2024

Business / Economics

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

4 December, 2024

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.

4 December, 2024

Business / Economics

Bank of Namibia Hosts CMA Central Bank Governors Meeting

The Bank of Namibia organized a high-level meeting of the Common Monetary Area Central Bank Governors, led by Governor Johannes !Gawaxab. The meeting included Governor Lesetja Kganyago from the South African Reserve Bank, Governor Emmanuel Letete from the Central Bank of Lesotho, and Governor Phil Mnisi from the Central Bank of Eswatini. Here's BoN'S Communications Practitioner: Josefina Oskar:

19 November, 2024