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Reserve Bank buying less bonds as the market stabilises

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The ‘strong’ 10.6% increase in the level of reserves means SA has enough to cover 9.8 months of imports, up from 8.8 months in June

The SA Reserve Bank increased its holdings of government bonds at a slower pace in July, taking up just less than R2.5bn, through the bond-buying programme launched to smooth the functioning of the local market.

The slower take up began in June, when the Bank reduced its purchases of government securities to about half those bought in previous months. The Bank has said this was due to an improvement in market conditions.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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