Summary of views Growth: We expect GDP growth of 1,8% yoy in 2022 and 1,9% in 2023. Currency: Our USDZAR fair value estimate remains at...

April was a month charecterised by some risks intensifying and new ones entering the fray. And in May some of the risks will become...

Summary of views Growth: We expect GDP growth of 1.8% yoy in 2022 and 1.9% in 2023. Currency: Our neutral range for the USDZAR is between...

March was, as expected, characterised by central banks increasing interest rates to contain runaway consumer price inflation (CPI),...

Adjusting our growth, inflation and fiscal expectations Growth We expect GDP growth of 1.8% yoy in 2022 and 1.9% in 2023. Currency Our...

In February the economic outlook and financial markets were dominated by talks of war, actual war, increasing consumer price inflation...

SUMMARY OF VIEWS Growth: We now see downside risks to growth in SA, prompted by the onset of the fourth COVID-19 wave of infections, the...

Indications are for “less-COVID-19-disruptive-but-still-lower” global economic growth; high but declining global consumer price inflation...

SUMMARY OF VIEWS Monetary policy – 75 bps of hikes in 2022 with the first 25bps in January We expect SARB to hike by 25 bps in January,...

Many events and indicators affecting the world economy and financial markets occurred relatively early on in December, slowing towards...

A year in which the global economy rebounded on generous fiscal and monetary support, a rollout of vaccinations and an increase in...

Central Banks reacted differently to rising CPI GLOBAL DEVELOPMENTS Product shortages and high oil prices raise global inflation rates...

Equity indices rebound on better earnings in October Equity markets dismissed concern over the imminent Fed taper as markets focused on...

October was dominated by energy issues all around the world – and these issues are likely to persist, affecting future consumer price...

Sector views steady despite more growth Although our growth expectations for South Africa are above consensus for this year and next,...

Sector views steady despite more growth Although our growth expectations for South Africa are above consensus for this year and next,...

Economies and financial markets were battered in September on account of several events. Some of these incidents – which already caused...

Equity-market indices marginally better after Fed reassurances Equity markets spent August drifting higher, supported by loose monetary...

Despite a surge in COVID-19 (Delta variant) infections which negatively impacts the performance of the US economy, monetary tightening in...

Summary of core macroeconomic and market views Currency Our neutral range for the USDZAR is between 14.50 and 15.25. In the short term,...