Central bank speeches and press conferences · South Africa
South Africa Annual Budget Speech
The South Africa Annual Budget Speech is a scheduled speech, press conference or appearance before lawmakers by a policymaker of the South African Reserve Bank.
- Importance
- Low
- Currency
- ZAR · South African rand
- Central bank
- The South African Reserve Bank
Latest figures
No results of this release are shown yet. They appear here as soon as they are published.
Why it matters
Policymakers use speeches to prepare markets for decisions. A governor or chair can move the South African rand and bond yields with a single sentence about the outlook for the repo rate; members who vote on rates matter more than those who do not, and a change in a usually predictable speaker's tone matters most.
How it is calculated
There is no figure; what matters is whether the remarks change expectations for rates.
What changes mean
- Listen for the balance between inflation worries (hawkish) and growth or job worries (dovish).
- Prepared remarks are released at the start; the questions afterwards often carry the surprises.
- Testimony before parliament or congress is usually the most market-moving.
A short history
For most of the 20th century central bankers said as little as possible; since the 1990s, communication and forward guidance have become policy tools in their own right.
Questions
What is the South Africa Annual Budget Speech?
The South Africa Annual Budget Speech is a scheduled speech, press conference or appearance before lawmakers by a policymaker of the South African Reserve Bank.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.