South Africa’s PPI surprised to the upside this week, but with crude oil back to pre-war prices and domestic harvests strong, we think the SARB rate hiking cycle is nearly done. Elsewhere, the Ebola outbreak in te DRC remains serious, even if the macroeconomic spillovers to the region should be limited. A proposed US funding package would boost the response to contain the virus while helping the Trump administration repair ties with African partners.
Note: We’ll be discussing key takeaways from our latest Global Economic Outlook in an online Drop-In briefing on Wednesday, 1st July. Register here to join the session.
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