The Producer Price Index this week will tell us how much South Africa has been affected by the severe supply shortfalls in many goods globally. They are a worry, but could well prove short-lived if companies are quick to adapt and recalibrate their supply chains.
Markets never move up in a straight line, so a correction every now and then should not by itself be cause for concern, say Izak Odendaal and Dave Mohr.
The rand is back to around 14/dollar. The last time it was in this territory was January 2020. In April of 2020, as the initial hard month of lockdown was crushing economic activity, it shot past record lows of just over 19/dollar. So the rand, which turned 60 in February, has made quite a comeback. Not bad for a pensioner.
The rand’s rally has a number of positive spin-offs. For one thing, it means domestic interest rates are unlikely to be hiked any time soon. If anything, it gives the South African Reserve Bank (Sarb) cover, if it so chooses, to cut again after it took the chainsaw to rates last year.
SA stocks close in green as vaccine roll-out resumes
By Siphelele Dludla
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JOHANNESBURG - SOUTH African stocks closed in the green on Monday buoyed by broadbased gains in banks and grocery stores on the resumption of the Covid-19 vaccination programme.
The JSE All Share Index rose 0.41 percent to 67 573 index points, remaining high throughout the day after the government set the date to lift the ban on vaccines.
The Sisonke implementation study was suspended earlier this month after some patients in the US developed a unique blood clot, but recent studies have shown this is a one in a million occurrence.
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