South Africa: Financial Institutional Structure: Press release on the nationalisation of the South African Reserve Bank

Tuesday, January 26, 2010

Press release on the nationalisation of the South African Reserve Bank

The South African Reserve Bank has noted the media interest evidently generated by comments of ANC Secretary-General Gwede Mantashe and would like to clarify the current parameters within which the SARB operates. It has issued a press release in this regard.

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View exchange rate graph for the rand against the US$. Current repo rate is 5,5%, and the prime rate is 9,0%. Targeted consumer inflation (CPI 3%-6%) increased to 4,1% year-on-year in February, compared with 3,7% in February. (UK 4,0 % in March, 4,4% in February). Producer price inflation (PPI) increased to 7,3% year-on-year in March, compared with 6,7% in February.

BRIC: The BRIC concept was coined in 2001 by Goldman Sachs economist Jim O'Neill to describe the most important and fastest-growing emerging economies.(Brazil, Russia, India, China).

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www.finforum.co.za

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South Africa: Financial Institutional Structure

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Tuesday, January 26, 2010

Press release on the nationalisation of the South African Reserve Bank

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