Senior Correspondent
Phumza's Feed
Sep 22, 2014
via FaithWorld

Pope Francis, on trip to mainly Muslim Albania, condemns Islamist militants

Photo

(Pope Francis arrives for a meeting with representatives of Albania’s Muslim, Orthodox and Catholic communities, at the Catholic University “Our Lady of Good Counsel” in Tirana, September 21, 2014. The pope is on a one-day pastoral visit to Albania. REUTERS/Alessandra Tarantino)

Pope Francis, in his strongest criticism of Islamist militants to date, said on Sunday no religious group which used violence and oppression could claim to be “the armor of God”.

Jan 19, 2012

S.African rates steady, next move likely up

JOHANNESBURG, Jan 19 (Reuters) – South Africa’s
Reserve Bank left its repo rate unchanged at 5.5 percent on
Thursday as expected, with concerns about a slowing economy
off-setting the pressures from inflation, which is likely to
stay outside its target band for longer than previously
expected.

At its first policy meeting of 2012, the bank raised its
inflation forecast, saying it expected inflation to be outside
its 3-6 percent target range throughout 2012, with the recent
depreciation of the rand the main reason.

Jan 18, 2012

S.African rates to be steady, economy still weak

JOHANNESBURG, Jan 18 (Reuters) – South Africa’s
manufacturing sector is in the doldrums and growth in consumer
demand slowed more than expected, suggesting economic growth
might not be strong enough to withstand rate increases this
year.

The Reserve Bank’s first monetary policy committee meeting
of the year is underway, with its decision due on Thursday
around 1300 GMT.

Nov 29, 2011

S.Africa Q3 GDP disappoints as mining contracts

JOHANNESBURG, Nov 29 (Reuters) – South Africa’s
economy grew less than expected in the third quarter
highlighting domestic weakness that might see the Reserve Bank
consider cutting interest rates.

Rates on the forward rate agreements (FRA) market — a gauge
of interest rate expectations — also trended lower after the
data. Government bonds firmed sending yields lower.

Oct 25, 2011

S.Africa’s Gordhan aims for primary balance by 2015

JOHANNESBURG, Oct 25 (Reuters) – South Africa will see its
budget deficit widen a touch this year to support a weak
recovery, but aims to constrain expenditure and keep debt in
check and over the following three years.

In its medium-term budget policy statement, the National
Treasury said the deficit would be financed mainly through
domestic auctions, with no plans to increase global borrowing
from the $1 billion a year for the next three announced in
February.

Oct 25, 2011

S.Africa’s Gordhan plans to cut deficit by 2015

JOHANNESBURG, Oct 25 (Reuters) – South Africa will see its
budget deficit widen a touch this year and over the next three
to support a weak recovery, but plans are afoot to constrain
expenditure and keep debt in check.

In its medium-term budget policy statement, the National
Treasury said the deficit would be financed mainly through
domestic auctions, with no plans to increase global borrowing
from the $1 billion a year for the next three announced in
February.

Sep 22, 2011

S.Africa holds repo rate flat, rand slides

JOHANNESBURG, Sept 22 (Reuters) – South Africa’s Reserve
Bank left its repo rate unchanged at 5.5 percent on Thursday,
balancing its concerns for domestic economic growth with the
expected increase in inflation stemming from a sharply weaker
rand.

Governor Gill Marcus said the bank’s Monetary Policy
Committee discussed a cut in the benchmark lending rate from its
current 30-year low, although the final decision to keep it on
hold was unanimous.

Sep 1, 2011

S.Africa’s bonds gain after PMI, rand softens vs dlr

JOHANNESBURG, Sept 1 (Reuters) – South Africa’s bonds firmed
across the curve on Thursday after PMI data showed the
manufacturing sector contracted for the second month in August,
supporting the case for accommodative monetary policy.

The rand softened to the dollar after its gains to
three-week highs below 7.00/dollar attracted importers to buy
dollars.

Jul 20, 2011

S.Africa’s weak sales, rising CPI pose dilemma for c.bank

JOHANNESBURG, July 20 (Reuters) – Annual growth in South
Africa’s retail sales was flat in May and inflation quickened
more than expected in June, highlighting the dilemma the Reserve
Bank is facing in containing inflation without hurting an
already-weak recovery.

The Reserve Bank is largely expected to leave the repo rate
unchanged at 5.5 percent on Thursday, when the focus will be on
any clues policymakers give about when rates will start rising
from 30-year lows after 650 basis points worth of reductions
between December 2008 to the end of 2010.

Jul 20, 2011

S.Africa’s weak sales, rising CPI pose dilemma for c.bank

JOHANNESBURG, July 20 (Reuters) – Annual growth in South
Africa’s retail sales was flat in May and inflation quickened
more than expected in June, highlighting the dilemma the Reserve
Bank is facing in containing inflation without hurting an
already-weak recovery.

The Reserve Bank is largely expected to leave the repo rate
unchanged at 5.5 percent on Thursday, when the focus will be on
any clues policymakers give about when rates will start rising
from 30-year lows after 650 basis points worth of reductions
between December 2008 to the end of 2010.

    • About Phumza

      "Responsible for coverage of policymakers at the South African Reserve Bank, Treasury and key economic indicators in South Africa and the Southern Africa region."
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