The South African Reserve Bank (SARB) outlined a “goldilocks” scenario of stronger growth and lower inflation at its MPC meeting this week and, if supply side constraints continue to ease, it may feel in a position to cut rates at a faster pace than we currently anticipate. Elsewhere, the recent floods that have afflicted West Africa and the Sahel are the latest extreme weather event to afflict the region this year, highlighting the threat posed by climate change to the continent’s long-term humanitarian and economic prospects.
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