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KPMG: Budget 2014

30 January 2014

The 2014 annual Budget Speech will be presented by Minister Pravin Gordhan on 26 February 2014. The contents of the Speech, together with the State of the Nation Speech to be delivered by President Zuma on 13 February 2014, are considered to be critical in the run up to the general election that will be held later this year.

Forward-looking SARB backs its forecasts

30 January 2014

The general expectation was that the South African Reserve Bank (SARB) would hold interest rates steady. After all, domestic demand is soft, credit extension growth has been modest and the core inflation rate has been stable at 5.3% for the last four months of data up to December 2013.

South Africa tentatively rebalances as global economy faces recovery

28 January 2014

A better global growth environment, combined with some current account improvement and better policy implementation, might lead to an improved outlook for the South African economy in the year ahead, especially compared to last year. This was the overall message at Old Mutual Investment Group’s quarterly investment briefing today. However, this improvement remains tentative based on the threat of existing risks being exacerbated by factors such as policy inaction, inflation and rate hikes.

Rand could weaken further against dollar

27 January 2014

Over the past year the South African currency has experienced many headwinds. Many of these resulted from home grown issues like the deteriorating local economic landscape, negative sentiment related to labour strikes, high unemployment coupled with an unsustainable large current account deficit (and the largest compared to other emerging markets). On top of this, the currency also experienced headwinds from the international landscape.

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