Economists incorrectly predicted a slight uptick in GDP
Economists say the government can expect to incur inflationary and exchange rate costs from the move
Amid directionless policy after 30 years of democracy, the country’s prospects continue to be driven by the whims of miners and their financiers
But the cinema group’s chief executive insists that the show will go on as load-shedding abates
Today’s monetary policy committee meeting comes in the wake of a surprise acceleration in South Africa’s annual inflation rate
According to economists, the country’s fourth-quarter GDP numbers will have been buoyed by a winding down of power outages
The local currency could be in for more volatility as political push-and-pull raises uncertainty
Despite inflation coming within a hair’s breadth of 6%, there is still reason to believe that the central bank will hold interest rates this week
However, inflation will probably remain elevated into next year
Ten years after its adoption, the government has failed to achieve the targets set out in the National Development Plan. Looming spending cuts will render the NDP even more futile
Retail trade sales decreased for the eighth consecutive month showing that consumers are still cash-strapped
Inflation accelerated to 4.8% year-on-year in August, up from 4.7% in July, according to data from Statistics South Africa
With interest rates at a 14-year high, many South Africans have depleted their emergency savings
The improvement in confidence was helped by the change in attitude of affluent consumers, who were spooked by severe load-shedding and the Russian cargo ship debacle in the previous quarter
A boost to manufacturing and agriculture’s rebound has seen the country’s GDP expand 0.6% quarter-on-quarter
To realise sustainable growth, the economic superpower must change tack, and South Africa must be ready to adjust
Mining windfall helped SA’s financial position, but lower revenues and additional spending will delay the end of fiscal consolidation
The Reserve Bank has already lifted rates 10 times since November 2021
Financial conditions are tight but demand for credit has remained robust in the face of interest rate hikes
The country’s economy expanded 0.4% in the first quarter, but analysts warn not to expect growth or recovery anytime soon
The first quarter growth has put the country’s GDP at just above its pre-pandemic level
The Reserve Bank governor had to defend interest rate hikes against criticism that they will do little to temper sticky inflation
Whatever hope was ignited among investors by the idea of a Ramaphosa presidency has mostly been snuffed out
The rand strengthened ahead of Wednesday’s inflation data, but it still held above R19 against the dollar
The recent rand crash has led some to believe another 50 basis point rise is on the horizon, despite a view that further hiking will do little to tame inflation
The rand’s fall after the US’s Russian arms claims shows South Africa can’t risk taking a side
The currency, which is usually a bellwether for other emerging markets, has diverged from global trends – thanks in large part to
the energy crisis
The treasury also hopes to change the behaviour of local government officials and restore financial management best practices
The president has been burned before by his administration setting expectations too high. The past five years has put the country’s real prospects into focus
The shelves in grocery stores have become more forbidding since the pandemic, but economists believe that there is some hope on the horizon
Analysts expected inflation to continue on a downward trajectory in February after falling to 6.9% in January; instead, it reached 7%
Production declined for the 12th consecutive month in January, the
largest negative contributors being platinum group metals and diamonds