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
South African food inflation rose in August, ending six months of decline 
By: Rebecca Campbell 1st October 2026 South African food and non-alcoholic beverage (NAB) inflation (hereafter to be referred to simply as food inflation, for short) rose in both... →
Franz Ruch appointed seventh MPC member
By: Lumkile Nkomfe 1st October 2026 Economist Franz Ruch has been appointed as an adviser to the governors of the South African Reserve Bank (SARB), effective October 1. As part of... →
Policy uncertainty remains elevated, despite easing somewhat in the third quarter
By: Tasneem Bulbulia 30th September 2026 Although still in negative territory, the North-West University Business School's Policy Uncertainty Index (PUI) for the third quarter eased to... →
South African rand edges up ahead of month-end economic data
By: Reuters 30th September 2026 The South African rand edged up in early trade on Wednesday ahead of a batch of month-end domestic economic data that could provide fresh signals... →
Daily Podcast – September 29, 2026
By: Halima Frost 29th September 2026 Making headlines: Ramaphosa to address nation on Ekurhuleni murders, gender-based violence; Kganyago outlines challenges, opportunities for South... →
South Africa's foreign direct investment inflows pick up in the second quarter
By: Reuters 29th September 2026 South Africa recorded foreign direct investment inflows of R49.8-billion in the second quarter, up from R20.3-billion in the previous quarter, the... →
Kganyago outlines challenges, opportunities for South Africa in current climate
By: Tasneem Bulbulia 29th September 2026 The world needs to contend with a new, “fragile”, reality – while the world economy and trade continue to grow, debt levels and geopolitical... →
South Africa's central bank raises main interest rate to 7.25%
By: Reuters 23rd September 2026 South Africa's central bank raised its key interest rate by 25 basis points (bps) to 7.25% on Wednesday, saying it wanted to steer inflation... →
Daily Podcast – September 23, 2026
23rd September 2026 September 23, 2026. For Creamer Media in Johannesburg, I’m Halima Frost. →
From fragility to resilience: The emerging market journey
By: Econ3x3 23rd September 2026 In many ways, South Africa is a textbook example of a resilient emerging market, but the country still faces the “silent crisis” of tepid growth.... →
