CBN optimistic on inflation, South Africa’s Article IV

Central Bank of Nigeria Governor Yemi Cardoso set out the case at this week’s MPC meeting for inflation to slow down, suggesting that officials are eyeing the end of the tightening cycle. But monetary policy will remain tight for a while yet, with rate cuts unlikely to come onto the agenda until Q2 2025. Meanwhile, during its latest Article IV visit, the IMF urged South Africa’s government to tighten the fiscal stance while also safeguarding public investment. The Government of National Unity will probably struggle to deliver on both of these fronts given likely disagreements between the ANC and DA.