Independent on Saturday

Interest rates

THE Monetary Policy Committee of the South African Reserve Bank (SARB) on Thursday announced that interest rates will remain unchanged: the bank repurchase (repo) rate will remain at 3.5%, with the prime lending rate therefore remaining at 7%. The committee revised Consumer Price Index inflation for 2021 slightly higher to 4.3% (up from 4.2%), and revised lower to 4.2% (from 4.4%) inflation in 2022. The SARB says its forecast reflects higher food and petrol prices that will push up near-term headline inflation, before moderating in the latter half of this year and into 2022. Electricity and other administered prices also continue to present short-term risks, it said.

CONSUMER Price Index inflation (CPI) for June was down slightly, at 4.9% year-onyear compared with 5.2% year-on-year in May. Johann van Tonder, economist at Momentum, says the lower headline rate was mostly the result of a lower year-onyear increase in the price of fuel, although meat and rent had contributed to upward pressure. He says CPI for July and August may receive upward pressure from municipal rate increases and the effect of the riots.

SATRIX has launched an exchange traded fund (ETF) that enables you to invest in the most inclusive and diverse companies on the JSE. The initial public offering of the Satrix Inclusion and Diversity ETF opened on Tuesday. A South African first, the ETF tracks a unique index that ranks JSE-listed companies according to key diversity and inclusion metrics. Metrics focus on diversity of the workforce and diversity at board level, and on inclusion, by looking at the percentage of employees with disabilities, B-BBEE scorecards, and a company’s policies on, for instance, HIV/ Aids, day-care and flexible working hours.

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2021-07-24T07:00:00.0000000Z

2021-07-24T07:00:00.0000000Z

http://independentonsaturday.pressreader.com/article/282119229568427

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