Quarterly Report | Q1 ’23
Introduction
The South African economy remained under severe pressure from persisting loadshedding during the first quarter of 2023. Different sectors, including manufacturing, mining, agriculture as well as small businesses, are being negatively impacted by loadshedding. Inflation has peaked during the last few months and is expected to fall within the target of 3-6% in the coming months. The South African Reserve Bank (SARB) announced a surprise 50 basis points interest rate hike, despite the economy operating at recessionary levels. It is expected that the economy will continue to operate at poor levels for the coming months. Markets are also expecting the rand (ZAR) to remain under pressure.
Previous Reports
Quarterly Report | Q1 ’25
The South African Reserve Bank (SARB) decreased interest rates by 25 basis points at the January Monetary Policy Committee (MPC) meeting.
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