Angola’s final rate cut, Nigeria and SA to hold rates

The Angolan central bank's latest rate cut delivered this week is likely to be its last for some time. Next week, we expect the Central Bank of Nigeria to hold at 26.50%, as inflation remains too high to resume easing. The South African Reserve Bank's decision on Thursday will be a close call between a hike and hold, but on balance we think weak growth and a resilient rand should sway policymakers towards keeping rates unchanged at 7.00%.