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South Africa : the “wait-and-see” economy

24 May 2017

Last week the International Monetary Fund upgraded their 2017 growth forecast for South Africa to 1%. Markets reacted with surprise given the spate of recent investment grade downgrades the country has faced, with Moody’s verdict still pending their June announcement.

Current uncertainty means Reserve Bank expected to leave rates unchanged for now

22 May 2017

The uncertainty around the rand with Moody’s rating review still pending would make the Monetary Policy Committee very cautious to change any policy settings. This is according to Tinyiko Ngwenya, an economist for Old Mutual Investment Group, who says that the South African Reserve Bank will likely leave the repo rate unchanged at the conclusion of its three-day monetary policy meeting ending 25 May 2017.

March 2017 retail sales surprise positively, but momentum remains weak

18 May 2017

Real retail sales increased by 0.8% in year-on-year (% y/y) terms in March 2017.

The knock-on effect of junk status

11 May 2017

The economic environment in South Africa has been in a steady decline as economic growth has been hard to come by, and political instability has unfortunately taken centre stage in our daily lives.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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