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Inflation down but not expected to change repo rate

Statistics South Africa announced this morning that the average inflation rate for 2023 was 6,0%, much lower than 2022’s 6,9%.

South africaRed seaDjibouti generalSouth africanReza hendrickseElize krugerJohannes khosaChifi mhangoNicky weimarSarb monetary policy committeeAfrican reserve bank sarbNedbank group economic unitDon consultancy groupAfrican reserve bank monetary policy committeeSouth african reserve bankMonetary policy committee

Economists expect repo rate to stay unchanged

Consumers are holding their breath about the decision of the Monetary Policy Committee about the repo rate, that determines interest rates.

South africaWestern capeAnnabel bishopFrank blackmoreLesetja kganyagoElize krugerBureau for economic research at stellenbosch universityNedbank group economic unitAfrican reserve bank sarbMonetary policy committeeBank monetary policy committeeReserve bankSouth african reserve bankEconomic researchStellenbosch university

Credit demand declined even further in November

Credit data for November shows that consumers cannot afford to buy houses, although they are using credit to buy cars and other goods.

South africaNedbank group economic unitBlack fridayCyber monday

Concern that food inflation is still too high

The moderation in inflation during November was thanks to a drop in fuel and therefore transport prices, but economists are still worried.

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Current account deficit narrowed in third quarter, but…

The current account deficit is the difference between the money coming into the country for exports and the money going out due to imports.

South africaNedbank group economic unitOxford economics africaEconomics africa

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