SA Reserve Bank rate cut offers relief to consumers
South African consumers were given some reprieve this past week as the South African Reserve Bank lowered interest rates in the country. Sarb Governor Governor Lesetja Kganyago announced that the central bank’s Monetary Policy Committee (MPC) voted to cut the repurchase rate (repo rate) by 25 basis points (BPS). See the full IOL Business Report article here>
Facebook and Microsoft pumping billions into South Africa
Major investment projects may have declined in South Africa, but tech giants and energy companies are still pumping billions into the country. Read the full article explaining where the investment is going in Businesstech here>
August fuel price: here’s what you’re likely to pay for petrol and diesel from Wednesday
Those with petrol-powered vehicles can look forward to some relief at the pumps from Wednesday, August 6, but diesel is looking set to increase by a significant margin. See the full impact in the MSN article here>
Allan Gray explains new two-pot retirement changes in South Africa
South Africans have accessed billions of their retirement savings following the introduction of the two-pot system last year, but new 2025 laws will clarify some points of contention that have cropped up. Read how the recent change may impact your retirement funds in this Businesstech article>
Financial indicators by Sharedata.co.za
Oil falls after Opec+ gives greenlight to another output increase
Oil prices fell on Monday after Opec+ agreed to another large production hike in September, adding to supply, but concern about disruptions in Russian oil shipments to major importer India limited losses. See the full article in BusinessDay here>
Gold slips on profit-taking after jobs-fuelled rally
Gold prices edged lower on Monday as investors booked profits after a sharp rise in the previous session on weaker-than-expected US jobs data that boosted the expectation for a US Federal Reserve interest rate cut in September. Read the full article in BusinessDay here>
Shares get a lift in Asia as lower US rates are baked in
Share markets found some much needed support in Asia on Monday as the heightened prospect of lower borrowing costs helped soothe concerns about the U.S. economy, though the long-term credibility of U.S. policy remained in doubt. Read the full article in Reuters here>