The South African Reserve Bank (SARB) announced the discontinuation of the publication of the Johannesburg Interbank Average Rate (Jibar), at the end of next year.
Zakhele Gininda, Lead Specialist of market operations and analysis at the SARB, said in a statement, this action is largely due to the benchmark’s structural weaknesses coupled with a decline in the market.
He said “all Jibar tenors will cease to be provided and will be considered non-representative as of the 31st December 2026.”
The South African Overnight Index Average (ZARONIA) will replace Jibar, following an outcome of discussions between the SARB and the Market Practitioners Group (MPG) back in 2022.
Picture: JSE
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