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PwC focus on rating agencies

12 October 2018 | General

Ratings agencies to focus on three priorities in October’s budget statement

Further strain on consumers as fuel prices are set to hit a record high in Oct 2018

01 October 2018 | General

After a brief hiatus with the government absorbing about R500 million of the fuel hike and only allowing 5 cents increase in September, the situation has deteriorated with the recent announcement by the Department of Energy (DoE) report showing that petrol prices will jump by 99 cents and R1/ litre for the two grades (93 and 95 Octane, ULP and LRP) respectively and diesel recording the biggest increase of R1.24/ litre for all the grades from October 3rd.

Reprieve for consumers as SARB keeps rates on hold

21 September 2018 | General

The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) kept interest rates on hold this week, aligning with market expectations. The repo rate and prime lending rate therefore remain at 6.50% and 10%, respectively.

Interest rates remain unchanged

21 September 2018 | General

The South African Reserve Bank governor announced the Monetary Policy Committee (MPC) decision to keep the repo rate unchanged at 6.5%. Two factors that lead to this decision were the MPC forecasting inflation to peak at 5.9% - which is below the top of the target band – and August inflation printing at 4.9%, which was lower than expected. The governor did emphasise the view of targeting the mid-point of the band to provide scope for inflation surprises and moving away from an effective acceptance that a level slightly below 6% should provide opportunities for rate cuts.

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