The plunge in South African inflation to just 3.0% y/y in April is likely to be followed by further declines, allowing the central bank to cut interest rates further. We expect another 75bp of cuts in the repo rate, taking it to 3.00%, which is more easing than markets are currently pricing in.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.