South Africa
Sarb reveals new non-executive director
Firoz Cachalia is appointed as a non-executive director to the board of the South African Reserve Bank; takes up new position on July 16
Brazil and South Africa agree supervisory co-operation
Central Bank of Brazil and South African Reserve Bank sign MoU to promote banking supervision; clears the way for domestic banks to build businesses in both markets
Sarb makes $60m loss due to costs of forex intervention
South African Reserve Bank suffers loss in fiscal year 2011/12 due to cost of forex activities; governor describes economic challenges in coming year as ‘daunting’
Sarb launches Ponzi scheme awareness campaign
Central bank warns public of Ponzi scheme risks; says it investigates a number of illegal operations each year
Sarb governor discusses response to economic risks
Gill Marcus examines economic risks facing South African economy; says employment target should not be included in bank’s mandate
South African Mint executives leave company for good
Andile Mvinjelwa and Thomas Davel leave South African Mint Company by mutual agreement following conclusion of investigation into poor-quality krugerrand coins
Sarb publishes Monetary Policy Review
South African Reserve Bank Monetary Policy Review notes continuing global uncertainty; central bank decides to maintain repurchase rate of 5.5%
IMF paper assesses welfare effects of monetary integration
Paper considers welfare effect of monetary union in Africa; finds significant benefits due to policy credibility and macroeconomic stability
Sarb paper examines inflation annoucement influence on currency market
South African Reserve Bank working paper examines link between inflation announcements and short-term currency fluctuations in South Africa
Sarb revises growth forecasts upwards for 2012
South African Reserve Bank publishes Financial Stability Review; revises growth estimate upwards
Sarb working paper discusses rand exchange rate
South African Reserve Bank working paper studies factors that influence the exchange rate of the rand as a free-floating currency
Sarb investigation finds low-quality proof Krugerrand coins
Investigation into SA Mint Company uncovers low-quality proof Krugerrand coins may have been casted between April 2011 and May 2011; dealers offered chance to return coins
IMF research links wage growth and unemployment in South Africa
Fund working paper asserts link between wage rate growth exceeding productivity growth and rising unemployment in South Africa
Increased fixed capital formations in South Africa
Latest quarterly bulletin from Sarb strikes optimistic note; chief economist at the central bank says increase in capital spending originates from both private and public sectors
Sarb seeks nominations for board of directors
South African Reserve Bank announces procedure for replacing retiring member of board of directors
Kenyan parliament clears central bank governor
Chaotic debates in Kenyan parliament result in Njuguna Ndung'u being cleared of personal responsibility over collapse of Kenyan shilling
South Africa records increase in value of gold reserves
SARB reveals $186 million rise in value of gold reserves; overall reserves value up $438 million
South Africa must tackle capital flows ‘challenge’, says deputy governor
Sarb deputy governor says problems with capital flows in South Africa require “fresh thinking”; rand exchange rate fluctuations causing problems
African central bankers embrace a new world order
Africa’s central bankers are adopting new approaches to managing their reserves as trade with Brics rises and the influence of developed nations wanes
New South African banknotes will portray image of Mandela
First democratically elected president of South Africa honoured in currency redesign; new notes expected by the end of 2012
Sub-Saharan Africa regional FSB group discusses challenges faced
FSB regional group discusses 'particular' challenges facing Sub-Saharan Africa; growing complexity of banking systems and cross-border spillover effects are causing concern
Sarb proposes further adjustments to open market operations
South African Reserve Bank wants to allocate amounts tendered by banks in repo auctions on a pro rata basis, to enhance efficiency of its monetary policy operations
South African bank creates new role for ex-central banker
FirstRand bank appoints former SARB deputy registrar of the banks Yvette Singh as public regulatory affairs executive
South Africa announces new deputy governor
Francois Groepe selected by president Zuma to be the new deputy governor of the South African Reserve Bank