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
Anti-migrant protests risk economic blowback for South Africa 
By: Reuters 10th July 2026 Frustrations over unemployment, crime and years of weak growth are driving South Africa's anti-migrant protests. But economists warn that the... →
Daily Podcast – July 01, 2026
By: Haydon Whitley 1st July 2026 Making headlines: Over 900 arrested during nationwide anti-migrant protests; Kganyago signals South Africa could hike rates again this month; And,... →
Kganyago signals South Africa could hike rates again this month
By: Bloomberg 1st July 2026 South African Reserve Bank Governor Lesetja Kganyago said inflation expectations have risen above the central bank’s 3% target, justifying the May... →
South Africa's economic recovery entering uncertain phase amid growing pressure
By: Schalk Burger 30th June 2026 South Africa’s economy remains on a recovery path, but rising global pressures and cost dynamics are slowing momentum and reshaping the outlook for... →
Inflation expectations rise before South Africa rate decision
By: Bloomberg 30th June 2026 South Africa’s two-year inflation expectations climbed,complicating the central bank’s efforts to anchor expectations around its 3% target. Average... →
Johannesburg has taken a big new loan to help fix its electricity problems, but the results will take time
29th June 2026 Just over a third (38%) of the residents of South Africa’s commercial capital, Johannesburg, reported being satisfied with their electricity... →
Cash is still king: the SARB's Cash Smart Strategy
29th June 2026 In a fast-evolving digital payments landscape, cash still continues to play a critical role in the South African economy. In June 2026, the South... →
Daily Podcast – June 24, 2026
By: Halima Frost 24th June 2026 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
24th June 2026 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 24th June 2026 The Commissioner for the South African Revenue Service (SARS) Dr Johnstone Makhubu has welcomed the unanimous judgment of the Constitutional Court... →
