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Moodys downgrades SA

Moodys

Credit rating agency Moodys Investors Service has downgraded South Africa’s credit rating one notch from Baa1 to Baa2, while also revising the credit outlook from negative to stable, said National Treasury. [Read more…]

SARB disputes downgrade of Capitec Bank

capitec bank limited

The South African Reserve Bank (SARB) says while it has taken note of rating agency Moody’s decision to downgrade Capitec Bank Limited, it does not agree with the decision. [Read more…]

SARB fines country’s big banks

South African Reserve Bank

South African Reserve Bank

The South African Reserve Bank (SARB) has fined the country’s big four banks R125 million collectively, it said on Wednesday. [Read more…]

Inflation a challenge for central bank

SA Reserve Bank

SA Reserve Bank

 

Pretoria – Head of Research at the South African Reserve Bank, Rashad Cassim, says rising inflation is a challenge for the central bank. [Read more…]

Reserve Bank heads to take a salary freeze

Gill Marcus - Reserve Bank Governor

Gill Marcus – Reserve Bank Governor

Pretoria – Reserve Bank Governor Gill Marcus, the bank’s deputy governors, together with the bank’s board members –  have decided to forgo salary increases in 2013 – given the global economic outlook, said the central bank. [Read more…]

Banks discuss unsecured lending

South Africa Bank Lending

South Africa Bank Lending

Pretoria – Discussions around the spike in unsecured lending, global challenges and infrastructure growth formed the crux of the meeting held on Monday between Finance Minister Pravin Gordhan and the banking industry. [Read more…]

Hope for BRICS Development Bank

BRICS - Development bank

BRICS - Development bank

Pretoria – South Africa says as host of the next BRICS summit next year, it has a duty to ensure that the grouping realises its dream of a Development Bank. [Read more…]