Archive for September 22nd, 2009

We look at the JSE reaction to the SARB, through the eyes of a Johannesburg based fund manager. A good dY, BUT CAN IT… »

The South African Reserve Bank left local interest rates unchanged today. Why? Good decision, or over conservative, and behind the curve? THREE economists and ONE currency trader give us their… »

Johannesburg, Sep 22 (I-Net Bridge)   Despite a stronger rand, equities and futures managed to finish in the black on Tuesday. Bonds lost a bit of ground though on the back of the Reserve Bank’s decision to keep the repo rate unchanged.
The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) on Tuesday decided to keep… »

Johannesburg, Sep 22 (I-Net Bridge) The South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MPC) on Tuesday decided to keep the repo rate unchanged at 7.0%. This is in line with consensus expectations in the marketplace.

SARB Governor Tito Mboweni said that some risks remain to the domestic inflation outlook,… »

South Africa’s economy lost 198,000 jobs year-on-year (y/y) in the second quarter, which reflects a labour market bleeding from the effects of the recession, according to an economist on Tuesday.
“The labour market is a typical lagging indicator of economic conditions. It is therefore likely that the softness in employment is likely… »

Johannesburg, Sep 22 (I-Net Bridge) Inflation will remain relatively sticky next year, as some reprieve from rand-induced disinflation in prices is offset by margin recuperation and spillover effects of high electricity prices and other input costs, according to an economist on Tuesday.

“These elements should limit further repo rate declines,… »

The increase in South Africa’s consumer price index (CPI), which is used by the South African Reserve Bank (SARB) for its inflation target, was up 6.4% year-on-year (y/y) in August from 6.7% y/y in July, Statistics South Africa (Stats SA) said on Tuesday.
CPI was up 0.3% month-on-month (m/m) after increasing 1.1%… »

In August, we were convinced of the strong need for further SARB easing – a minority view at the time, but as it turns out following the ‘surprise’ SARB rate cut, the correct view. Now, ahead of today’s September MPC decision, the balance of risks appears to favour an unchanged decision. However, it is not… »

Johannesburg, Sep 22 (I-Net Bridge) - South Africa’s formal jobs dropped by 0.8%, or 67,000 people, in the quarter to June to an estimated 8.259 million employees, official data showed on Tuesday. This comes after a revised 2.2% (2.1%) quarter-on-quarter (q/q) fall in the first quarter to a 8.326 million (8.333 million)… »

TO BE OR NOT TO BE, THAT IS THE QUESTION
The ZAR was trapped in a narrow range yesterday bouncing back and forth between 7.39 and 7.53, as better than expected local retail sales data countered the effect of lower commodity prices and slim risk appetite.
Despite mild international event risk, SA data is plentiful today with… »