{"id":63973,"date":"2024-04-08T17:18:01","date_gmt":"2024-04-08T17:18:01","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa"},"modified":"2024-04-08T17:37:44","modified_gmt":"2024-04-08T17:37:44","slug":"another-reserve-bank-shake-up-on-the-cards-for-south-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa","title":{"rendered":"Another Reserve Bank shake-up on the cards for South Africa"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The six-person Monetary Policy Committee (MPC) tasked with setting the country\u2019s repo rate could grow to seven, after Governor of the South African Reserve Bank (SARB), Lesetja Kganyago, signalled that it would be ideal to have an uneven number.<\/p>\n

Kganyago said in an interview with News24 that the MPC \u201cprefers an odd number (of members),\u201d to prevent the possibility of a deadlock when committee members vote on interest rates.<\/p>\n

In the event of a deadlock in voting, the governor breaks the tie.<\/p>\n

The MPC meets six times a year to set the repo rate and can consist of up to seven members, including the governor of the SARB, three deputies, and senior officials appointed by the governor.<\/p>\n

If a seventh member becomes a reality, this will be chosen by Kganyago and his team of three deputy governors from within the organisation.According to the Reserve Bank, a standard MPC meeting starts with presentations from numerous senior officials from the SARB about the latest developments in both the global and domestic economies, as well as in the financial markets, sharing projections for the economic future.<\/p>\n

After these presentations, the SARB staff economists leave, allowing the MPC members to deliberate and decide on the approach to the repo rate. They then craft a statement detailing their decision.<\/p>\n

There have already been two new appointments to the MPC in 2024, which started this year at four members. Kganyago has also accepted a third term as governor.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The six-person Monetary Policy Committee (MPC) tasked with setting the country\u2019s repo rate could grow to seven, after Governor of the South African Reserve Bank (SARB), Lesetja Kganyago, signalled that it would be ideal to have an uneven number. Kganyago said in an interview with News24 that the MPC \u201cprefers an odd […]<\/p>\n","protected":false},"author":84,"featured_media":63972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-63973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nAnother Reserve Bank shake-up on the cards for South Africa - South Africa<\/title>\n<meta name=\"description\" content=\"The six-person Monetary Policy Committee (MPC) tasked with setting the country\u2019s repo rate could grow to seven, after Go ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another Reserve Bank shake-up on the cards for South Africa\" \/>\n<meta property=\"og:description\" content=\"The six-person Monetary Policy Committee (MPC) tasked with setting the country\u2019s repo rate could grow to seven, after Go ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-08T17:18:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-08T17:37:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712585034.133316.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Another Reserve Bank shake-up on the cards for South Africa\",\"datePublished\":\"2024-04-08T17:18:01+00:00\",\"dateModified\":\"2024-04-08T17:37:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa\"},\"wordCount\":265,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1712585034.133316.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/another-reserve-bank-shake-up-on-the-cards-for-south-africa\",\"name\":\"Another Reserve Bank shake-up on the cards for South Africa - 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