South African inflation under control; US President Trump signs a flurry of new orders

Loading player...
SA’s December annual inflation rate, at 3% (from 2.9% in November) was surprisingly low, showing few signs of pressure other than in administered services. This should encourage the Reserve Bank to cut interest rates at end-January by 25 bps to 7.5%. We expect the bank will remain cautious but will make a further rate cut to 7.25%, the neutral rate, by mid-year.
US President Donald Trump signed 36 executive orders in his first week. Some of the themes were: tariffs, where he imposed less than expected; energy and the environment, allowing for more exploration for oil and gas; border and immigration control; reversing various diversity and inclusion initiatives; and the federal workforce, where he introduced a hiring freeze and restructuring. For SA, new US policies on energy and immigration are likely to be the most significant at this stage. Click here to listen to the podcast.
27 Jan 2025 English South Africa Investing · Business News
Star episode

Other recent episodes

US economic growth broadens in Q3; SA’s GDP bigger than previously estimated

In this podcast, STANLIB’s Chief Economist, Kevin Lings, discusses the areas of strength and weakness in US GDP growth of 3.4% in Q3 2026, which was relatively broad-based. He also explores why the Fed decided to hold interest rates unchanged. Kevin discusses Stats SA’s re-basing and recalculation of GDP, which…
2 Nov 16 min

SA is not yet seeing second-round inflation effects: Kevin Lings

In this podcast, STANLIB’s Chief Economist, Kevin Lings, analyses the details behind SA’s below-expectation increase in inflation in September, to an annual rate of 4.5% from 4.4%. While fuel inflation is 27.9% y/y, it has not yet fed into other categories – e.g. food inflation is only 1% y/y, though…
26 Oct 10 min

MTBPS 2026 shows evidence of positive fiscal progress

In this podcast, Kevin Lings, Chief Economist at STANLIB Asset Management, highlights what was positive and what was disappointing in today’s Medium-Term Budget Policy Statement. He discusses how achievable the revenue and expenditure targets are, and stresses the need for stronger policy measures to push SA’s growth rate up to…
21 Oct 16 min

Minister delivers positive surprises for bond investors in the MTBPS

In this podcast, Sylvester Kobo, Deputy Head of Fixed Income at STANLIB Asset Management, summarises the main points of interest in the MTBPS for bond market investors. He explains how the bond market reacted in the short term and is likely to respond in the longer term. He also analyses…
21 Oct 3 min