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While it is easy to look at global developments and blame them for our woes, the truth is that most of our current problems are all of our own making. And consequently we are condemning ourselves to an also-ran status as other emerging markets – including some on the African continent – usurp our position.
A decline in the March 2015 BankservAfrica Economic Transaction Index (BETI) against February’s report, shows the volatile nature of South African economic activity. The average nominal value per transaction via the South African banking system increased year-on-year by 11.3%, the highest percentage since August 2004. This could indicate underlying inflationary pressure felt by the South African economy.
Businesses face a challenging 2nd quarter of 2015.
Consumer price inflation (CPI) slowed to 3.9% for the year to February 2015 from 4.4% in January 2015. This largely reflected a sharp fall in petrol prices. Despite this, core inflation remained sticky at 5.8% in February 2015.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?