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March delivered a mixed bag of economic data but global markets ended the month meaningfully higher.
High inflation is detrimental to economic growth. It attracts investment to non-productive assets and discourages saving; consumers are more likely to buy immediately in an environment of rising prices. Without sufficient domestic saving, we need to rely on foreign investment to spur on development, eventually running into a balance-of-payments crisis.
Plans for the ZAR X stock exchange – scheduled for September launch – have been welcomed by both business and the investment community, say the innovators behind the concept for a flexible, simple and affordable method of listing a company and trading shares.
Global Credit Ratings (GCR) has accorded national scale fund ratings of AA+(ZA)(f) to both the Investec Money Market Fund and the Investec Corporate Money Market Fund. Both fund ratings in respect of the money market funds were accorded Stable outlooks.
The strongest deterrent against FSP compliance missteps is or should be: