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A few weeks back, the future path for South Africa’s repo rate seemed clear. Disinflation had driven the annual advance in headline CPI towards the Reserve Bank’s new inflation target of 3% with a tolerance band of 1%. Indeed, the inflation print for February 2028 was exactly 3.0%.
Geopolitical tensions in the Middle East have escalated sharply following coordinated US and Israeli strikes on Iran and Iran’s subsequent retaliation across the region.
If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?