South Africa’s central bank is set to keep interest rates unchanged for a fifth time in a row and signal a delayed start to an anticipated cutting cycle, with inflation risks still skewed to the upside. Economists surveyed by Bloomberg expect Governor Lesetja Kganyago’s five-panel monetary policy committee to show its resolve in fighting price … Read More “SA set to hold key rate at 15-year high, delay cuts” »
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Treasuries slipped as a Federal Reserve official emphasized that recent US economic data might delay the number of interest-rate cuts seen this year. An Asia-Pacific equity gauge was little changed as gains among Hong Kong and mainland Chinese stocks offset losses in Japan. Shares of Hon Hai Precision Industry Co. — which makes iPhones for … Read More “Treasuries drop on Fed-speak, Chinese stocks climb: Markets wrap” »
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As widely predicted, the South African Reserve Bank (Sarb) kept its key repo rate at 8.25% on Wednesday, which means the prime lending rate of local commercial banks also remains unchanged at 11.75%. Sarb governor Lesetja Kganyago announced the decision following the bank’s March Monetary Policy Committee (MPC). ADVERTISEMENT CONTINUE READING BELOW This is the … Read More “Another ‘hold’: Repo rate remains at 8.25%” »
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Britain faces a £16 billion ($20.1 billion) annual bill to cover the spiralling cost of disability benefits over the next five years as the country grapples with the longest sustained rise in health-related inactivity since the 1990s. Analysis by the Resolution Foundation think tank found that the UK is in the midst of a unique … Read More “UK in grip of worst health-related work crisis since 1990s” »
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India’s inequality gap has widened sharply under Prime Minister Narendra Modi’s decade in power, with the richest 1% of the population now owning 40% of the country’s wealth, a new study found. The top 1%, or about 9.2 million people, earn 22.6% of total income — the highest share since data going back to the … Read More “India’s rich own 40% of wealth in extreme inequality under Modi” »
by Fintechnews Africa 21 March 2024 The banking industry stands at the brink of a major transformation, driven by rapid technological advancements and changing customer expectations in a dynamic digital landscape. This transformation is not without its challenges, as banks grapple with the critical task of bridging the gap between traditional banking services and the … Read More “Redefining Resilience for Banks in the Digital Era With the Four Zeros” »
