SA Money Daily | Reserve Bank strikes a more dovish tone, but worries about inflation expectations

Bombshell accusations rock municipal pension fund

View Online SA Money Daily The biggest business, economic and market news of the day. AHMED AREFF, BUSINESS DEPUTY EDITOR Reserve Bank strikes a more dovish tone, but worries about inflation expectations The central bank's Monetary Policy Committee (MPC) kept interest rates on hold and at a 15-year high – where it has been for a year - on Thursday.   But despite the SA Reserve Bank's unanimous decision to keep the repo unchanged at 8.25%, the MPC was arguably the most dovish for a fair while, says Oxford Economics' senior economist Jee-A van der Linde.   "We had an uncertain start to 2024, but recently, developments have been somewhat more positive," was how governor Lesetja Kganyago started his briefing on Thursday.   The MPC now sees inflation stabilising at its target level of 4.5% in the second quarter of next year.   "This is an improvement on our March forecast, which only reached this milestone at the end of 2025."   This was the result of cooler-than-expected inflation numbers for March and April, with food inflation moderating faster than previously forecast. Read More Sponsored | Building a brand and marketing-centred culture in business In the rapidly evolving world of marketing, new technology and shifting consumer behaviour present significant opportunities for businesses to position and build their brands. Bombshell accusations rock municipal pension fund Mergence Investment Managers will face off with Akani Retirement Fund Administrators in court over a R7-billion mandate over municipal employees' pensions. Why Anglo shares are holding firm even as BHP takeover ambitions flatline Negligible movements in Anglo American shares on Thursday did not reflect much disappointment over BHP's failed R900-billion bid. Treasury says IEC was well funded to run election The Treasury has denied a report that the IEC faced funding constraints in running the election. Carol Paton | Where did the troublesome third ballot come from? Thank your political party The third ballot made the voting process longer and more complicated. This is where it came from, writes Carol Paton. Africanbank to delay JSE listing as it eyes more black shareholders CEO Kennedy Bungane says the group wants to invite black business people to invest in Africanbank, which he says is actually South Africa's "original black bank". KPMG dumps Eskom supplier Salungano two weeks after signing off its second audit Audit firm KPMG has dumped coal miner and Eskom supplier Salungano Group and resigned as its auditor barely two weeks after signing off its second audit of the firm. DOWNLOAD THE NEWS24 APP CONNECT WITH US

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