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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessGoldman Sachs Raise SARB Rate Expectations: Sees Final 25bps Hike in May
- Goldman Sachs write that while the underlying SA inflation picture remains far more benign than elsewhere, the SARB’s response to the recent increase in inflation risks has been unequivocally hawkish.
- They revise higher their inflation forecast from 5.6% to 6.2% for 2023, taking a more hawkish view on supply factors and FX in the short term. As such, they raise their rate forecast and now expect tighter policy for longer.
- GS pencil in a final 25bp hike at the 25th May MPC meeting to a terminal 8.00% policy rate (up from 7.75% previously) and push expectations for the start of rate cuts from Q1 to Q2 2024.
- Their revised forecasts are now slightly more hawkish than Consensus and the SARB’s in the near term, but significantly more dovish in the medium term, due to demand-side factors that they expect to remain very disinflationary.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.