South Africa cuts key rate for first time in over a year
Businessam Staff
July 18, 2019
South Africa’s central bank shifted policy to help boost the economy and now the government must do its part to make the first interest-rate cut in more than a year more effective. That was the message from the Reserve Bank’s Monetary Policy Committee after agreeing to lower the repurchase rate to 6.5% from 6.75%. It […]
Libor, global interest rate indicator, nears its end as 2021 death knell sounds
Businessam StaffJuly 27, 2017
Libor, the nearly 50-year-old global borrowing benchmark that became a byword for corruption, is headed for the trash heap of history. The U.K. Financial Conduct Authority will phase out the key interest-rate indicator by the end of 2021 after it became clear there wasn’t enough meaningful data to sustain the benchmark that underpins more than $350 […]