The U.S. Federal Reserve must ensure “minimal damage” to emerging markets from plans to reduce bond purchases, South African Finance Minister Pravin Gordhan said.
South African inflation slowed for the first time in five months to 5.6 percent in May after gasoline prices fell the most since July.
The Bank of Botswana cut its benchmark interest rate for the second consecutive meeting to stimulate growth in the world’s biggest diamond producer as inflation slows.
Mozambique’s central bank cut its benchmark interest rate by half a percentage point, the first reduction in seven months.
Former South African President Nelson Mandela remained in hospital for a second day for treatment of a lung infection after being admitted yesterday for a fourth time since December.
Former South African President Nelson Mandela is in “serious but stable” condition after being admitted to the hospital for a fourth time since December.
South Africa’s foreign-currency reserves fell the most in more than four years in May after the government repaid a loan.
South African Reserve Bank Governor Gill Marcus said rising inflationary risks because of a weaker rand and a slowing economy are limiting policy makers’ room to adjust interest rates.
South African central bank Governor Gill Marcus said policy makers’ core mandate is to control inflation even as economic growth forecasts are set to be lowered because of mining strikes.
The trial of Oscar Pistorius, the Paralympian gold medalist who killed his model girlfriend, was postponed until Aug. 19 to give prosecutors and police more time to investigate.