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SOUTH AFRICA: Pandemic adds uncertainty to government’s wage bill battle

Teneo-Europe-Report

● The South African Reserve Bank (SARB)’s rare 100 basis point rate cut today, 19 March, will provide a welcome monetary boost. ● But the fiscal outlook is expected to worsen further, particularly if the anticipated recession and any fiscal stimulus measures combine with a fai…   Become a member to read the rest of […]

SOUTH AFRICA: COVID-19 could not hit at a worse time

Teneo-Europe-Report

● The fallout from the COVID-19 pandemic will only sharpen the National Treasury’s fiscal dilemmas and weaken South Africa’s odds of holding on to its final investment-grade credit rating. ● Within South Africa’s borders, the number of COVID-19 cases is ticking up, but draconi…   Become a member to read the rest of this article

Macro Series – Global Letter – Easy Target

Macro Series - Global Letter - Easy Target | Speevr

The Bank of England has come under attack for cutting rates. This is unfair and misguided. Back to the bottom The Bank of England has followed the example of the Federal Reserve, and slashed its major policy rate by 50bps. UK Bank Rate is now back down at a 326-year low …   Become a […]