Market participants question South African rate reform
Risk South Africa: Some urge caution as South Africa moves to reform Jibar
South Africa is trying to reform its key interbank rate – potentially moving to a risk-free rate some tentatively dub Zaribor – but banks and buy-side participants question the necessity.
“We don’t want a rate that can – especially under market stress – do weird things. That can cause massive problems,” said Albertus Bekker, executive head of group market risk monitoring at Nedbank. “The good thing about the current Jibar is that it is sort of stable.”
In an audience poll at this year’s Risk
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