SARB insights Archives

Key points The Budget 2026 delivered gradual consolidation (deficit narrowing to 4.0%, debt projected to[...]

South Africa has lived through different epochs in its short 31-year democracy. The Mandela epoch[...]

SUMMARY The SARB matched consensus expectations and kept interest rates unchanged at its January MPC[...]

The SARB matched consensus expectations and cut interest rates by 25bp at its November MPC[...]

Key points SA’s budget was well-received by financial market participants. Bond yields fell, the ZAR[...]

Key points The 2025 Medium-Term Budget Policy Statement brought a few surprises to the table,[...]

Key Points: Although South Africa’s inflation remains contained, the SARB has opted to keep policy[...]

The SARB kept its benchmark rate unchanged at 7.00%, matching consensus estimates and our base[...]

The SARB cut its benchmark rate by 25bp to 7.00%, matching consensus estimates and our[...]

Bottom Line The SARB resumed its monetary policy easing cycle, cutting the Repo Rate by[...]

Key points: The SARB chose to leave rates unchanged. The various data sets in the[...]

BOTTOM LINE The SARB delivered its third consecutive cut at its January MPC meeting. However,[...]

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