South African Reserve Bank
The South African Reserve Bank is the central bank of South Africa, responsible for monetary policy, financial stability and the regulation of the country's banking system. Established in 1921, it is headquartered in Pretoria and operates under the South African Reserve Bank Act. The bank's primary mandate is to protect the value of the rand in the interest of balanced and sustainable economic growth. It sets the repo rate, which influences borrowing costs and inflation, and targets an inflation band of 3% to 6%. The Reserve Bank also manages the country's gold and foreign-exchange reserves, oversees the national payment system and acts as banker to government and commercial banks. It is governed by a board of directors and led by a governor appointed by the President. The bank operates with a degree of independence, though its mandate is set by Parliament. Unlike many central banks, the South African Reserve Bank has private shareholders, a legacy of its founding, though this does not affect its policy independence. It plays a central role in South Africa's financial architecture and is a key voice in debates over interest rates, currency stability and economic policy. The bank publishes regular monetary policy statements and economic reviews that are closely watched by markets and policymakers.
South African Reserve Bank Updates
Daily Podcast – June 24, 2026
By: Halima Frost Updated 1 hour 31 minutes ago Making headlines: IFP appeals for law, order ahead of June 30 undocumented immigration protests; SARS Commissioner welcomes Constitutional Court... →
Constitutional Court confirms: Recycled gold that has undergone prior manufacturing is not zero-rated for VAT
Updated 1 hour 48 minutes ago On 23 June 2026, the Constitutional Court delivered a unanimous judgment in Lueven Metals (Pty) Ltd v Commissioner for the South African Revenue... →
SARS Commissioner welcomes Constitutional Court judgment on zero-rating of gold
By: Sabrina Jardim Updated 7 hours ago The Commissioner for the South African Revenue Service (SARS) Dr Johnstone Makhubu has welcomed the unanimous judgment of the Constitutional Court... →
South African inflation rises less than expected in May 
By: Reuters 17th June 2026 South African inflation rose by less than expected in May, which analysts said reduced the likelihood of another central bank interest rate hike... →
Daily Podcast – June 15, 2026
15th June 2026 Making headlines: Traders cut South Africa rate-hike bets after Iran peace deal BLSA says structural reforms gain traction but criminal justice... →
Social Grants and the Future of Digital Payments in South Africa
15th June 2026 Social protection remains one of the most visible, impactful, and fundamentally necessary pillars of South Africa’s democratic settlement. The... →
Traders cut South Africa rate-hike bets after Iran peace deal
By: Bloomberg 15th June 2026 Traders have scaled back bets on additional South African interest-rate hikes after a US-Iran peace deal sent oil prices tumbling, potentially... →
Daily Podcast – June 11, 2026
By: Halima Frost 11th June 2026 Making headlines: South Africa posts largest current-account surplus since 2022; Reserve Bank sees financial system staying resilient despite Iran... →
SARB sees financial system staying resilient despite Iran war
By: Reuters 11th June 2026 South Africa's central bank said on Wednesday the country's financial system was likely to remain resilient despite tighter financial conditions... →
South Africa posts largest current-account surplus since 2022
By: Bloomberg 11th June 2026 South Africa posted its largest current-account surplus in four years in the first quarter as the value of gold exports surged and imports dropped.... →
