National Treasury

Monthly Insights: March 2019

By | 2019-03-11T13:20:38+00:00 March 11th, 2019|Finance, General, Watch This|

  Executive Summary There has been a broad decline in inflation rates across the world, including a sharp downward surprise in our own (SA) inflation print for January. Lower energy prices, a decline in raw material and machinery costs, as well as falling demand-pull inflation have been key reasons for the falling inflation trajectory [...]

Daily Market Commentary: 11 October 2018

By | 2018-10-24T09:21:51+00:00 October 11th, 2018|Markets and Research|

Today we are taking a look at: National Treasury announces another switch auction, mixed reaction, SAGBs bear steepening VBS joins the list of failed local institutions Oil headed for the biggest two-day drop since July as a rout in stocks spread to commodity markets Weakness in global equity markets continued on concerns that higher US [...]

MTBPS Preview: Fiscal slippage vs. Fiscal consolidation

By | 2017-09-12T13:27:41+00:00 September 12th, 2017|Markets and Research|

Executive Summary We are currently in a low-growth trap and this will likely weigh significantly on the revenue outlook over the medium-term. Unless confidence levels are boosted, SA is likely to achieve fractional or low single-digit growth rates over the next three to five years. We anticipate a 50bps miss in the 2017/18 growth forecast, [...]