There is a misconception that deposits in bank accounts are guaranteed by government should the bank fail. The reality is that in South Africa there is no deposit insurance, although this is currently being reviewed by the South African Reserve Bank.
Tag - South African Reserve Bank
While undoubtedly serious, the threat of a downgrade in South Africa's credit rating needs to be seen in context.
There is little current pressure on the South African Reserve Bank to hike interest rates this week, at least from a current inflation point of view.
With the interest rate rising slowly but steadily, consumers should review their finances to understand the impact of future rates on their budgets.
By Sanisha Packirisamy, economist at Momentum Asset Management. It is clear that the South African Reserve Bank (SARB) remains aware of the potential negative local effect of a rise in US rates should the US decide to hike rates this year. In the event that global capital flows to emerging markets (including South Africa) are negatively impacted...
Last week, consumers received good news from the South African Reserve Bank (SARB) that the repo interest rate would be kept at 5.75%, which means that the retail rate at which consumers are offered credit, would stay at 9.25%. Absa provided this useful infographic Click on the infographic below for the full-size graphic.
By Nazmeera Moola, economist and strategist, Investec Asset Management Consumers should be able to sleep somewhat easier in the next few months, as we have most likely seen the last interest rate hikes for 2014. This is partially due to the weak economic outlook. We expect the South African Reserve Bank (SARB) to keep rates on hold this Thursday...
When you invest globally, you can invest in either rand-denominated (asset swap) or foreign domiciled funds, which are denominated in foreign currencies.