South African President Ramaphosa's approval of the controversial National Health Insurance bill this week was a clear effort to bolster the ANC’s support ahead of the election. But it also signals that fiscal policy is likely to be looser after the vote. Elsewhere, the further rise in Nigeria’s headline inflation rate in April as well as a pledge from Governor Cardoso to “do whatever is necessary” to get inflation under control means that a rate hike at next week’s MPC meeting is nailed on.
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