South Africa’s central bank this week pointed to both price and financial stability, as its priority objectives, at a time of increasing inflation. It is also tasked with guarding against systemic disruptions to the financial system, which threaten the functioning of the economy.
South Africa’s central bank this week pointed to both price and financial stability as its priority objectives, at a time of increasing inflation.
The South African Reserve Bank is the central bank of South Africa. Its primary purpose is to achieve and maintain price stability in the interest of balanced and sustainable economic growth. Together with other institutions, it also plays a pivotal role in ensuring financial stability. The governor said that the monetary policy stance has been, and remains, supportive of the recovery, with the repurchase rate currently at 4.75%. With inflation ticking up steadily, the MPC opted to begin the normalisation of the repurchase rate, raising it by 125 basis points since November 2021.
The bank’s staff complement is largely made up of highly skilled individuals including those in: IT, security, business analysis, economists, economics, finance & accounting, banking regulations and compliance, actuarial science, among others.
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