Government bonds being bought in secondary market
As the Covid-19 crisis takes hold of SA, the Reserve Bank fired its own bazooka on Wednesday stepping into the secondary bond market to purchase government bonds with newly created money.
The government bond market has been unable to function normally for the past week, with yields spiking to record highs due to a shortage of buyers. This has dire implications for the cost of borrowing by the Treasury, which must raise an average of R1.1bn a day to fund the country’s borrowing requirements.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LUKANYO MNYANDA: Reserve Bank’s moves may not be a sign that Ace Magashule got his ‘quantity easing’After the central bank on Wednesday unveiled new measures to inject liquidity into financial markets, some assumed governor Lesetja Kganyago had finally caved in 🔒 LukanyoMnyanda
Read more »
MARKET WRAP: Bond yields fall as Reserve Bank extends stimulusThe all share rose 5.17%, as did the top 40, with resources and gold miners both up significantly
Read more »
Instagram unveils new shared video feature to ease isolationAdam Mosseri, head of Instagram, told journalists the new 'co-watching' feature allows people to connect around online content while video chatting.
Read more »
Moody’s could hold decision on SA downgrade — for now - The Mail & GuardianThe ratings agency is expected to say on Friday whether it will downgrade SA’s credit rating to junk, but it could hold off until the Covid-19 pandemic eases.
Read more »
As Covid-19 disrupts football games, Brighton offers payment relief for fansFootball Fever ⚽️Brighton & Hove Albion will allow fans to delay payments on season tickets for the 2020/21 campaign by three months to help ease supporters’ cash flow problems amid the economic crisis caused by the Covid-19 coronavirus
Read more »
WATCH | Why black mambas just want to be left aloneThe beady eyes seem to be watching your every move.
Read more »