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SOUTH AFRICA: SARB Reiterate Data Dependency in Latest MPR

SOUTH AFRICA
EM BulletBulletGlobalEmerging Market NewsRegion

Highlights from the SARB's MPR:

  • Looking forward, South Africa’s growth performance is forecast to improve. Private investment in renewable energy, increased maintenance by Eskom and transmission system development, along with reforms in ports and rail, should further reduce energy and logistical constraints.
  • The economy is expected to grow by 1.1% this year, rising to 1.8% by 2026. That growth remains well below the estimated long-run, steady-state level of 2.5%, however, is in large part because the prolonged supply-side constraints have eroded the economy’s productive capacity.
  • Policy decisions will continue to be guided by incoming data as the MPC seeks to protect the purchasing power of the rand in the interest of balanced and sustainable economic growth.
  • Declining inflation coupled with the interest rate relief, twopot retirement reform and improved electricity supply, should bolster sentiment and spur growth in household spending and investment.

A reminder that the livestream of the presentation of the report can be found here.

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Highlights from the SARB's MPR:

  • Looking forward, South Africa’s growth performance is forecast to improve. Private investment in renewable energy, increased maintenance by Eskom and transmission system development, along with reforms in ports and rail, should further reduce energy and logistical constraints.
  • The economy is expected to grow by 1.1% this year, rising to 1.8% by 2026. That growth remains well below the estimated long-run, steady-state level of 2.5%, however, is in large part because the prolonged supply-side constraints have eroded the economy’s productive capacity.
  • Policy decisions will continue to be guided by incoming data as the MPC seeks to protect the purchasing power of the rand in the interest of balanced and sustainable economic growth.
  • Declining inflation coupled with the interest rate relief, twopot retirement reform and improved electricity supply, should bolster sentiment and spur growth in household spending and investment.

A reminder that the livestream of the presentation of the report can be found here.