Nigerian weakness, Dovish SARB, big Zambian rate hike

Figures released this week added to the evidence that Nigeria’s economy continued to falter in the second half of this year. South African policymakers sounded dovish at their latest MPC meeting, but we still doubt that they will cut rates anytime soon. Their Zambian counterparts, by contrast, hiked rates again this week, which will add to the headwinds facing the economy.

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