South Africans may have to wait longer for interest rate cuts, with the South African Reserve Bank likely to follow moves in the USA.
“Factors influencing our projection include the likely moderation in inflation expectations, the expected moderation in headline inflation, ongoing rand strength, a faster-than-anticipated moderation in food inflation, relatively stable international oil prices and interest rate easing by some major global central banks,” Packirisamy said.
The Government of National Unity contains 10 separate parties but primarily got its votes from the ANC and DA, who have been stuck in tense negotiations over cabinet positions.Despite the risks, BofA does see several positives in the GNU.
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