SA Reserve Bank
@SAReserveBank
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The purpose of the South African Reserve Bank is to achieve and maintain price stability in the interest of balanced and sustainable economic growth
Pretoria, South Africa
Joined September 2011
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The South African Reserve Bank MPC decided to keep the repurchase rate at its current level of 8.25% per year. The decision was unanimous.
#SARBMPCMAR2024
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Njabulo Ntombela, brought his great-Gogo on stage with him to collect his law degree at his graduation, as a tribute to those who paved the way for all.
Let’s celebrate Madiba’s 100th birthday by remembering the values that live within us all.
#TheMadibaInMe
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At the SA Cross-Country champs 17-year-old Ronen Oosthuizen gave up his place to help fellow athlete Mpho Mitchell cross the line. Let’s celebrate Madiba’s 100th birthday by remembering the values that live within us all.
#TheMadibaInMe
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Our currency has over the years celebrated seminal milestones of our democracy, starting with the inauguration of the first democratically elected president Nelson Mandela. To learn more about Madiba’s enduring legacy and the upgraded banknotes and coin, visit the exhibition at
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[WATCH] The South African Reserve Bank unveiled the country’s upgraded banknotes and coin and they will be in the market from today. The currency with new designs and enhanced security features can be used alongside the current money in circulation. The security upgrade is in
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Please note that this is a fake account and has been reported to Twitter. SA Reserve Bank is not planning to issue a R10 coin nor a R500 note.
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The Monetary Policy Committee (MPC) of the
@SAReserveBank
has decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25% per annum.
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Please note, this is fake news. The SARB does not rank or award banks.
SA Reserve bank appointed Orania OSK bank as the best co-op (community) bank in SA. We are very proud of our own institutions on own land with own labour. During the past financial year bank transactions through the system accounted for R1.34 Billion… growing by 16.3%!
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The SA Reserve Bank has established the country’s deposit insurance body, the Corporation for Deposit Insurance (CODI), to protect depositors & bring further confidence to a resilient financial sector. For more on
#CODI
read here:.
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[WATCH]The SA Reserve Bank has upgraded the country's banknotes and coin, enhancing security features & adding new designs celebrating our heritage. Upgrading our currency protects it against counterfeiting. Click here, for more:
#OurMoneyOurPride
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Congratulations Governor
@KganyagoLesetja
who’s just been awarded the honorary degree Doctor of Commerce at
@StellenboschUni
. Watch the ceremony live, here:
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Have you seen our upgraded currency with enhanced security features and new designs? The upgraded banknotes and coin can be used alongside the currency already in circulation. For more, download the SARB Currency App.
#OurMoneyOurPride
#KnowYourRand
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#DidYouKnow
that our upgraded banknotes have enhanced security features to assist the visually impaired community to determine if a banknote is genuine and to differentiate between the denominations by feel? The visually impaired can feel the spear symbol in the Coat of Arms and
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Public warning from the SA Reserve Bank:
DO NOT hand over cash to anyone claiming that it is contaminated with COVID-19.
A thread
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🌸 Fun fact: The king protea holds a special place in South Africa's heart as the national flower! 🇿🇦 Its remarkable adaptation to wildfires and ability to bounce back epitomises the resilience of South Africans. 💪 Spot the beautiful king protea on the new R1 in our 4th decimal…
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The SARB welcomes the announcement by President Cyril Ramaphosa of the re-appointment of Mr
@KganyagoLesetja
as Governor of the SARB, and the appointment of Ms Nomfundo (Fundi) Tshazibana and Dr Rashad Cassim as Deputy Governors of the SARB.
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The South African Reserve Bank has upgraded the security features on the banknotes to combat counterfeiting. Use the Look, Feel & Tilt method to authenticate your banknotes. Find the watermark of the Big 5 animal of each denomination, Tilt to see the security thread change colour…
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We are joined by the Mayor of the City of Johannesburg, Cllr Kabelo Gwamanda at the
#TalkToTheSARB
in Soweto.
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The SARB would like to congratulate Lesetja Kganyago for being named Governor of the Year by Central Banking. Read more:
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🚨[WATCH] The SA Reserve Bank (SARB) is warning consumers about advance fee fraud scams, commonly known as 419 scams. A 419 scam occurs when fraudsters persuade you to send them money with a promise of a larger reward in return. Scammers sometimes even send fake documents…
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When a country blows up its own economy, its policy options narrow, to the point where all the choices are bad ones. If you can get anyone to lend to you, it will be the IMF. Real, lasting wealth is about know-how, not natural resources -
@KganyagoLesetja
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[WATCH] The Corporation for Deposit Insurance (CODI) became a legal entity on 24 March 2023. The SA Reserve Bank established CODI to protect depositors & bring further confidence to a resilient financial sector. For more on
#CODI
read here:.
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In commemorating the birth centenary of OR, SA Mint, subsidiary of SARB, is producing a R5 circulation coin ORTamboCoinLaunch
#ORTambo100
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The MPC decided to increase the repurchase rate by 75 basis points to 6.25% per year, with effect from the 23rd of September 2022. Three members
of the Committee preferred the announced increase. Two members preferred a 100
basis points increase.
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[WATCH] The South African Reserve Bank unveiled the country’s upgraded banknotes and coin. The currency with new designs and enhanced security features can be used alongside the current money in circulation. The security upgrade is in line with international best practice to…
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Governor, Lesetja Kganyago, has been appointed Chair of the International Monetary and Financial Committee (IMFC) for a term of three years, effective today 18 Jan 2018: Read more
@KganyagoLesetja
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The Monetary Policy Committee decided to increase the repurchase rate by 50 basis points to 8.25% per year, with effect from 26 May 2023.
#MPCMAY2023
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Mzamo Njekanye opened a boxing academy in Duncan Village to empower the young people in his community to become champions. Let’s celebrate Madiba’s 100th birthday by remembering the values that live within us all.
#TheMadibaInMe
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A post by X user,
@AfrikanerO8040
claiming that the SA Reserve Bank has recognised Orania OSK bank (OSK Koöperatiewe Bank Beperk) as the best co-op bank in the country is false. The SARB does not rank or award banks.
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Governor
@KganyagoLesetja
answering a question on why the SA Reserve bank continues to raise interest rates when South Africans are struggling to keep up with their home loans.
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The MPC decided to cut the repo rate by 100 basis points. This takes the repo rate to 5.25% per annum, with effect from 20 March 2020. The decision was unanimous.
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The Monetary Policy Committee has cut the repurchase rate by 25 basis points, bringing it to 3.50% per annum, with effect from 24 July 2020.
#SARBMPCJUL20
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Nobody is talking about changing the mandate of the Reserve Bank. It is clearly stipulated in the Constitution -
@tito_mboweni
#SA25
#25YearsOfDemocracy
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The Monetary Policy Committee decided to keep the repurchase rate at its current level of 8.25% per year, with effect from 21 July 2023.
#SARBMPCJuly23
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The SARB is next month launching its first commemorative banknote series, in celebration of Nelson Mandela’s 100th birthday. The notes will cover the R10, R20, R50, R100 and R200.
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Congratulations to Governor
@KganyagoLesetja
and four other men and women who will be conferred with Honourary doctorates degrees from
@MandelaUni
for their remarkable contribution to society, through their work in the fields of literature, economic development & gender advocacy.
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Following the social unrest over the past week, several Automated Teller Machines (ATMs) were left damaged. These devices are protected with technology to stain banknotes in such instances. The public is advised to not accept banknotes stained with traces of blue and green ink.
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Many South Africans wonder if the 10c and 20c pieces are still legal tender. They are and should be accepted as payment for any goods and services. However, there are limits to how many coins may be used per transaction.
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The South African Reserve Bank’s MPC has decided to increase the repurchase rate by 75 basis points to 5.50% per year, with effect from the 22nd of July 2022.
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The South African Reserve Bank welcomes the announcement by President Cyril Ramaphosa to reappoint Governor Lesetja Kganyago and Deputy Governors Fundi Tshazibana and Rashad Cassim, and the appointment of Dr Mampho Modise as Deputy Governor. All are members of the Monetary Policy…
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“The SARB’s fundamental, constitutional mandate is to protect the value of the currency in the interests of balanced and sustainable growth”
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Governor
@KganyagoLesetja
has been recognised with the award of Central Bank Governor of the Year, by
@AfricanBanker
magazine. In 2018 the Governor won the global
@CentralBanking_
Governor of the year award, voted by his peers.
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The Monetary Policy Committee decided to keep the repurchase rate at its current level of 8.25% per year, with effect from 22 September 2023.
#SARBMPCSEP23
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Chart of the week: the SA economy expanded just 15.9% over the past decade, making the 2010s the worst growth decade on record.
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As part of the first commemorative banknote series in celebration of Nelson Mandela’s 100th birthday, SA Mint (a subsidiary of the SARB) will also be issuing a new commemorative circulation R5 coin.
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South Africa has several buffers against distress: it has a strong and well capitalised banking system. We have sufficient FX reserves. The flexible exchange rate remains the first line of defense against shocks.
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The SARB notes a report by a US based fund manager. According to all the information available, Capitec is solvent, well capitalised and has adequate liquidity. The bank meets all prudential requirements.
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President Cyril Ramaphosa announced the reappointment of Governor
@KganyagoLesetja
and Deputy Governors Fundi Tshazibana and Rashad Cassim, and the appointment of Dr Mampho Modise as Deputy Governor. All are members of the Monetary Policy Committee and will oversee different
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Today we celebrate our local currency. Named after the Witwatersrand, the ZAR was born on 14 February 1961. Learn more here:
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Minister
@tito_mboweni
and Governor
@KganyagoLesetja
with their teams discussing the Economic Response Package to deal with the COVID-19 outbreak.
#CoronavirusInSouthAfrica
#Covid_19
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Congratulations Governor
@KganyagoLesetja
on your
@CentralBanking_
Governor of the year award!
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Press statement from
@SAReserveBank
regarding further amendments to the money market liquidity management strategy of the SARB and additions to the Monetary Policy Portfolio. See full statement here:
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[ICYMI] Governor
@KganyagoLesetja
was last night awarded the honorary degree Doctor of Commerce at
@StellenboschUni
.
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SA borrows heavily from world. Our current account deficit, which is equal to the foreign savings that come into SA, is close to 4% of GDP. Almost all peer countries borrow less. If we try to cut rates too far, despite the SA's risk, investors won’t have enough reason to invest
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SARB is offering grants to postgraduate students registered at SA
universities. For more information click here:
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The COVID-19 outbreak will produce the worst economic downturn in a century. We expect that ‘the great lockdown’ will cause output to contract by about 7% this year. During the Great Depression, output fell by 6.1% and 6.2% in 1930 and 1931, respectively.
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Governor
@KganyagoLesetja
will deliver an online lecture titled 'Monetary Policy and the Coronavirus' at the Wits School of Governance, on Thursday 18 June at 13:00. See the invitation for details.
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Against this backdrop, the MPC decided to keep the repurchase rate at its current level of 8.25% per year. The decision was unanimous.
#SARBMPCNOV23
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Chart of the week: For the first 10 months of the year, SA exports are nearly R54 billion ahead of where they were in 2019, despite the lockdown disruption. SA’s export commodity prices are at post-2008 highs.
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Twenty eight years ago, today, Tata Madiba walked out of Victor Verster Prison to lead SA to freedom. To honour this great South African, the SARB will issue commemorative banknotes and coin to coincide with Madiba's Centenary.
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We
@SAReserveBank
are truly saddened by the death of Auditor-General Kimi Makwetu and would like to extend our deepest condolences to his family, friends and colleagues. The country has lost one of its most brilliant and dedicated public servants.
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The MPC decided to increase the repurchase rate by 75 basis points to 7%, with effect from the 25th of November 2022. Three members of the Committee preferred the announced increase. Two members preferred a 50 basis point increase.
#SARBMPCNOV22
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The International Monetary and Financial Committee (IMF) of the Board of Governors of the
@IMFNews
commends Governor
@KganyagoLesetja
for outstanding service as Chair of the IMFC from January 2018 - January 2021
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Chart of the week: SA has experienced its worst load shedding this year, with total gigawatt hours shed surpassing the 2019 record in Aug. Cumulative shedding for 2020 is already 23% worse than 2019 – even though real GDP is currently about 9% lower than it was this time in 2019
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On 14 February 2021, our currency, the rand turns 60, officially making it a pensioner. As part of the celebration, we will be taking you through a timeline of currency in South Africa to commemorate this milestone
#RandBecomesAPensioner
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The May 2020 meeting of the MPC was moved earlier and took place today. The MPC will host a media briefing today Tuesday 14 April 2020 at 11.30, which will be streamed live on the
@SAReserveBank
's Facebook and YouTube accounts.
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The MPC has decided to reduce the repurchase rate by 25 basis points to 6.5% with effect from 29 March 2018
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The MPC decided to reduce the repurchase rate by 25 basis points to 6.25% per annum.
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The MPC unanimously decided to reduce the repurchase rate by 25 basis points to 6.5% per annum.
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[REPOST] Following the social unrest over the past week, several Automated Teller Machines (ATMs) were left damaged. ATMs are protected with technology to stain banknotes in such instances. The public is advised to not accept banknotes stained with traces of blue and green ink.
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The South African Reserve Bank has noted a ruling by the Constitutional Court that the Public Protector be held personally liable for a portion of the legal costs that the Reserve Bank incurred to overturn the findings of her Absa/Bankorp report. Full judgement to follow.
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The SARB remains committed to ensuring that South Africans have confidence in the integrity of cash. Recent unrests resulted in many ATMs being damaged and destroyed. Banknotes from ransacked ATMs are considered proceeds of crime and have no value and cannot be exchanged. Watch:
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Governor
@KganyagoLesetja
will deliver a public lecture at
@StellenboschUni
tomorrow evening at 6pm, titled: “Independence & Policy Flexibility: Why should central banks be independent?” A link to watch it live will be provided tomorrow.
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Populists are good at tapping into social frustrations and seeing where society is hurting most. They are a reminder to more responsible people that things have to change in sensible ways -
@KganyagoLesetja
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Against this backdrop, the MPC decided to keep the repurchase rate at its current level of 8.25% per year. The decision was unanimous.
#SARBMPCJAN2024
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Ricardo Hausmann, Minister of Finance
@tito_mboweni
& Reserve Bank Governor
@KganyagoLesetja
attend the second round of the Economic Colloquium underway in Pretoria today
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[FYI] All R5 coins remain at their value of R5 only. This includes the Nelson Mandela and Oliver Tambo commemorative R5 coins.
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Chart of the week: Of all the countries for which we have comparable data, SA had one of the worst GDP outcomes under lockdown. But it doesn’t mean output halved! This is an annualised number, so it would have to be repeated for a whole year for GDP to fall 51%.
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#DidYouKnow
that central banks around the world upgrade their currency every few years? Upgrading our currency protects it against counterfeiting so that you can use your money with pride and confidence.
#OurMoneyOurPride
#SARB
#SARBConnectingUs
#Mandela10
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Chart of the week: South Africa's terms of trade hit an all-time high at the start of 2020, with lower prices for imports like oil, and higher prices for export commodities (e.g. palladium). This helped lift the current account to its largest surplus in 27 years.
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Chart of the week: The prime interest rate is 7.25%, near record lows. A mortgage payment for a R500,000 loan is now around R900 cheaper than it was last year.
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[MEDIA STATEMENT]
@TreasuryRSA
and
@SAReserveBank
have released a joint response to allegations by Mr. Tokyo Sexwale. For full statement:
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The South African Reserve Bank’s MPC has decided to increase the repurchase rate by 75 basis points to 5.50% per year, with effect from the 22nd of July 2022.
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Chart of the week: Inflation was 2.1% in May, the first time targeted inflation has been below the 3-6% target range since inflation targeting was introduced in 2000.
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#DidYouKnow
that the SA Reserve Bank has upgraded the security features on our banknotes to protect them against counterfeiting? Counterfeiting diminishes the value of money and tarnishes the credibility of a currency, costing countries billions. The enhanced security features…
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A banknote is but a piece of paper, a payment, a coin but a piece of metal. Both derive their worth from the trust that the citizens of a country have in the country’s currency -
@KganyagoLesetja
#SA25
#25YearsOfDemocracy
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The Covid-19 outbreak has major health, social and economic impacts, presenting challenges in forecasting domestic economic activity
#MPCStatement
#MayMPC
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The
@SAReserveBank
has space to lower its policy rate, given that inflation is projected under 4.5% this year, and is likely to stay well within the target range over the medium term.
#AprilMPR
#SARBMonetaryPolicyForum
#TalkToTheSARB
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Against this backdrop, the MPC decided to increase the repurchase rate by 50 basis points to 7.75% per year, with effect from the 31stof March 2023. Three members of the Committee preferred the announced increase. Two members preferred a 25 basis points increase.
#MPCMARC2023
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Chart of the week: Consumer electricity prices have risen 177% since 2010, against 69% for the inflation basket as a whole. Electricity inflation is currently more than double headline inflation, at 7.7% vs 3.2%.
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The MPC decided to increase the repurchase rate by 25 basis points to 7.25% per year, with effect from the 27th January 2023.
#SARBMPCJAN23
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[RECRUITMENT] The SARB invites all innovative and talented Chartered Accountant (CA) candidates to join its CA Training Programme for 2022. To apply, visit . Applications close 30 September 2021.
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The South African Reserve Bank (SARB) has concluded its investigation and report into the Phala Phala matter. To read the press release on findings, click here:
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The South African Reserve Bank has upgraded the country’s banknotes & coin with enhanced security features & new designs celebrating our heritage. We have added the SA flag, preamble to our Constitution in micro-lettering and the Big 5 depicted as a family. The deep ecology theme…
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