When National Treasury gave the nod to the SARB for the lower 3% inflation target, with a tolerance band of +/-1%, towards the end of 2025, few would have guessed that its first true test would arrive relatively soon after. The onset of the Middle East...
As of 24 April 2026, the US–Iran conflict has been ongoing for approximately eight weeks. Despite President Trump’s extension of the ceasefire to allow for further negotiations, the path to a lasting resolution remains uncertain. Regardless of when and on...
Following a strong but concentrated 42% rally in 2025 (Figure 1), investors are questioning whether SA equities have meaningful further upside in 2026. The answer lies in the interplay of global and local dynamics, with the market's diversity and resilience...
Emerging market (EM) portfolio inflows continue to recover, supported by a "Goldilocks" environment amid a shift in the Federal Reserve's policy stance. South African equities have benefited from improving risk appetite, recording a 24% increase year-to-date...
The South African Reserve Bank (SARB) has, under the leadership of Governor Kganyago, significantly enhanced its inflation-targeting credibility over the past decade. With the adoption of an implicit point target of 4.5% in 2017, inflation moderated from...