Lesetja Kganyago
Coverage of Lesetja Kganyago in the Nexus archive.
- South Africa holds interest rates despite inflation
South Africa’s central bank maintained its benchmark interest rate, contrary to market expectations of a hike following a surge in June inflation. The decision caused the rand to drop over 2%, becoming the worst-performing currency, while bond yields rose. Governor Lesetja Kganyago noted persistent high inflation and weak growth, and economists like Citibank’s Gina Schoeman predict a potential rate hike in September due to ongoing inflation concerns linked to energy costs from the Middle East conflict.
- S. African central bank predicts reaching 3% inflation target
South Africa's central bank predicts inflation will reach its 3% target faster due to falling global oil prices, prompting economists to revise expectations of consecutive interest rate hikes. Governor Lesetja Kganyago highlighted the impact of lower oil prices, while Goldman Sachs now anticipates no rate increase at the upcoming meeting. However, geopolitical tensions in the Strait of Hormuz threaten to disrupt oil traffic.
- South Africa’s Kganyago Warns Inflation Expectations Are Rising
Lesetja Kganyago warns that inflation expectations are rising in South Africa. The article mentions his concern about this economic trend.
- South Africa hikes key interest rate as Iran war drives inflation
South Africa’s central bank raised its benchmark interest rate by 25 basis points to 7% amid inflation driven by the Iran war, prioritizing a 3% inflation target over domestic economic recovery. The decision, supported by a 4-2 vote, contrasts with a $1 billion fuel relief package and may create tension with politicians ahead of November elections. Ghana, Kenya, and Nigeria also maintained steady lending rates despite similar economic pressures.
- Emerging Carry Trade Rebounds With Real, Rand Among Favorites
The South African rand is among the emerging market carry trade favorites, with the benchmark interest rate maintained at 6.75%. The monetary policy committee made this decision, as announced by Governor Lesetja Kganyago. This move may impact the carry trade and investor sentiment.
- Kganyago Links ‘Surprisingly Resilient’ Rand to Dollar Mistrust
Lesetja Kganyago discusses the surprisingly resilient Rand in relation to the Dollar, with no clear indication of mistrust. The article mentions Kganyago's perspective on the currency. The context of the discussion is not clearly stated.
- Kganyago Cites Zulu War to Signal Preemptive Inflation Move
Lesetja Kganyago referenced the Zulu War during a speech at the IMF and World Bank Spring meetings in Washington, DC, to emphasize the need for preemptive measures against inflation. The historical reference highlighted his proactive stance on economic policy.