The South African Reserve Bank (SARB) has published the ‘Consultation paper on selected interest rate benchmarks in South Africa’. The paper contains proposals on the reform of key interest rate benchmarks used in South Africa as well as proposals on a suite of new benchmarks that could potentially be used as reference interest rates. These reform efforts are consistent with the SARB’s endorsement of the coordinated efforts by global regulators and central banks to ensure that interest rate benchmarks are credible, accurate and trusted by consumers and financial market participants.
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