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South Africa
and the Region: Economic
Policy, Financial System, Financial Institutions, Investment, Markets and Regulation
The Guide
to the Southern African Financial Services Industry
FSF
brings you information
on financial services, economic policy, financial
institutions, financial markets, financial regulation and payment systems in South Africa and
elsewhere.
FSF also provides a directory to
relevant Web sites, and through the selected links,
reduces your search time.
See What's
New, below - scroll down
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Keep Abreast of ...
Is
UK quantitative easing working? Thursday,
10 March 2010
“Quantitative easing (QE)” is an important task: the
need to make monetary policy effective when interest rates are close to
zero. The world’s leading central banks, including the Bank of England,
have taken such actions. But is UK policy working? Yes, but not quite
enough.
The argument about quantitative easing is polarised:
some critics wail about inflationary “money printing”; others complain
that too little attention is paid to the flow of credit. Of the two camps,
the latter is the more persuasive.
At its simplest, as Charles Bean, the Bank’s deputy
governor, has explained, the Bank uses newly created money to purchase
assets. Hitherto, the UK’s QE has amounted to £200bn ($274bn), mainly
used to purchase government bonds. The new money, in turn, ends up as bank
reserves at the Bank.
Monetarists like the policy because of its effects on
the money supply. Non-monetarists stress its impact on asset markets. In a
recent speech, David Miles, an external member of the monetary policy
committee, pointed to the effects on liquidity, on prices of government
bonds, corporate bonds and other assets, and on issuance of bonds and
equities. It is impossible to relate effects to causes precisely. But all
these desirable things have happened.
The hysterics fear the policy will work too well: bank
lending will explode and inflation expectations soar. As Adam Posen,
another member of the MPC, has pointed out, the right response is: if
only. Should anything like this occur, it would be simple (and desirable)
for the Bank to reverse the policy. [...]
Continue reading on the Financial
Regulation Forum
See previous
briefings (last: Mandelson frowns on America's unilateral
financial reforms) in the Briefings
section of the Financial Regulation
Forum
Keep Abreast of ...
is inspired by Teaching
Sells and hosted in
the US by Bluehost
__________ |
Topical
 | Financial
institutional structure
Following recent statements by the ANC and its
Alliance partners, we wish to facilitate discussion on the South
African financial system and its institutional infrastructure -
Treasury; Reserve Bank; Financial Services Board; banks, etc.;
monetary policy; regulation; stability; payment systems; and
nationalisation. |
| Zumanomics:
Which way to shared prosperity in South Africa? Challenge for new
government,
Editor Raymond Parsons.
South Africa stands at an historical
political and economic crossroad in 2009. Globally the widespread
world recession has serious consequences for the slowing South
African economy. |
| Financial news from South
African online news publications.
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| The Economist's Big
Mac index seeks to make exchange-rate theory more
digestible. It is arguably the world's most accurate financial
indicator to be based on a fast-food item. |
| Property analyses are in the Assets
and investments section |
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Convert from South African Rand (or any other currency) to
any other currency.
Includes all African currencies. Historical exchange rates also
available in tabular format.
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What's new
March 2010
February 2010
| Rand
Merchant Bank's Africa
Quarterly: Getting back on track, is available, it is
indexed in The
Africa region section. |
| Standard
Bank's Uganda:
Annual Economic Outlook 
(PDF) is available, it is
indexed in The
Africa region section. |
| The 2010
National Budget documentation is now available, it is
indexed in the Economic
information section |
| Standard
Bank's annual report The
Economy in 2010
(PDF 2,4 MB) is available, it is
indexed in the Economic
information section |
| Standard
Bank's Zambia:
Annual Economic Outlook
(PDF) is available, it is
indexed in The
Africa region section. |
| The first quarter Absa Housing
Review is available
(PDF), it is indexed in the Assets
& investments section. |
| An updated Standard Bank Residential
Property Gauge
is available
(PDF), it is indexed in the
Assets
& investments section. |
| The Nedbank Guide
to the Economy is now
available, it is indexed in the Economic
information section. |
January 2010
December 2009
November 2009
October 2009
| Standard Bank has produced a paper on the SA
Medium Term Budget Policy Statement and Medium Term Expenditure
Framework, MTEF
October 2009
(PDF), it is indexed in the Economic
information section. |
| The fourth quarter Absa Housing
Review is available
(PDF), it is indexed in the Assets
& investments section. |
| Standard
Bank's Mauritius: Mid-year Economic Outlook
(PDF) is available, it is
indexed in The
Africa region section. |
| The [SA] Monetary Policy Committee decided to
leave the repo rate unchanged at 7,0 per cent per
year, see the latest
Statement
of the Monetary Policy Committee available from the Reserve
Bank,
it is indexed in the System
& markets section. Next meeting on 16 & 17 November 2009. |
| Standard
Bank's Mozambique: Mid-year Economic Outlook
(PDF) is available, it is
indexed in The
Africa region section. |
| Standard
Bank's Macroeconomic
Forecast
(PDF) is available, it is indexed in the Economic
information section. |
| An updated Standard Bank Residential
Property Gauge
is available
(PDF), it is indexed in the
Assets
& investments section. |
| The IMF provides its biannual Global
Financial Stability Report,
it is
indexed in Regulation
& legislation section. |
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Choice,
not fate the life and times of Trevor Manuel: Biography of Trevor
Manuel,
Pippa Green
Trevor Manuel has been South African Minister of
Finance since June 1996. He was born in Cape Town in January 1956 the
son of an employee of the Cape Town City Council. He was involved in
the founding of the UDF in the Western Cape and subsequently became
the regional secretary of the United Democratic Front (UDF). Between
1985-1990 he was repeatedly detained without trial or placed under
house arrest, spending a total of 35 months in detention. In 1992
Manuel became head of the ANC's Department of Economic Planning. After
the April 1994 elections Manuel was appointed Minister of Trade
Industry and in March 1996 he was appointed Minister of Finance
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