Franz Wild News
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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.
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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.
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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.
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Mozambique’s central bank cut its benchmark interest rate by half a percentage point, the first reduction in seven months.
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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.
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Former South African President Nelson Mandela is in “serious but stable” condition after being admitted to the hospital for a fourth time since December.
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South Africa’s foreign-currency reserves fell the most in more than four years in May after the government repaid a loan.
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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.
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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.
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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.
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