Economies at a glance January 2021

United States: New president, Joe Biden, changed course by signing 17 executive orders on his first day in office – reversing several environment-related policies introduced by former president Trump. His promised target of 100 million COVID-19 vaccine doses to be administered during his first 100 days in office is likely to be exceeded. Meanwhile, Americans started to receive their $600 ‘stimulus checks’, which formed part of the $900 billion relief…

Interest rates on hold despite higher inflation expectations

The Monetary Policy Committee (MPC) of the South African Reserve Bank (Sarb) decided to keep the repo rate unchanged at 3.5%, following its two-day interest rate-setting meeting on 20 and 21 January 2021. The Sarb revised its economic growth estimates for 2020 and the forecast for 2021 higher. Economic growth for 2020 is now estimated at negative 7.1% (negative 8% at its previous meeting in November 2020). The new projection…

Weekly market Update & Podcasts – October

Returns (to 23rd October 2020)   SA Equity (ALSI) SA Bonds (ALBI) SA Property (SAPY) Global Markets (MSCI ACWI in ZAR) 1 week 0.5% 0.8% 5.2% -2.0% 1 month 2.1% 1.7% 6.0% 0.5% YTD -0.6% 3.3% -46.6% 21.1% Latest material ·         Accountability needs to start at the top for Ramaphosa’s plan to succeed https://ninetyone.com/en/south-africa/how-we-think/insights/accountability-needs-to-start-at-the-top-for-ramaphosas-plan-to-succeed ·         Ninety One Market Review – Quarter ending 30 September 2020 https://ninetyone.com/en/south-africa/how-we-think/insights/ninety-one-market-review-september-2020 ·         Outlook still bright…