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Market Commentary

Momentum Metropolitan Holdings Limited (Momentum Metropolitan)

Latest Releases

Economic and market snapshot for September 2018

In Momentum Investments’ view, an acceleration in structural reforms is imperative to resolve the country’s stark inequality problem.

Interest rates steady at 6.5%, but the balance of sentiment is shifting towards tighter monetary policy

The SARB MPC left interest rates unchanged at 6.5% at the September 2018 interest rate-setting meeting, but noted three out of the seven MPC members had made arguments for an interest rate increase in of 25 basis points.

Another positive inflation surprise for August 2018

In Momentum Investment’s view, lower services inflation, muted currency pass-through and subdued food inflation contributed to the trend in downward surprises in recent months.

All Releases

Published: 07 December 2015

Fitch and S&P ratings review – SA on the lowest investment grade rung

In line with our and the market’s expectations, Fitch ratings agency downgraded South Africa’s long-term sovereign debt rating to BBB- from BBB.

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Published: 02 December 2015

Economic and market snapshot for November 2015

Short-term outlook on consumption remains encouraging, keeping the prospect of a December rate hike on the table

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Published: 26 November 2015

MMI 2016 economic and market outlook

As a tumultuous 2015 draws to a close, investors can reflect on a volatile year characterised by diverging global policy paths, a China growth slowdown and rising geopolitical risk. What will be the likely trends for economies and financial markets in 2016?

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Published: 11 November 2015

Momentum Macro Bulletin – A gauge of the global macro temperature

The International Monetary Fund (IMF) presented broad-based cuts to forecasted economic growth in their most recent October 2015 World Economic Outlook, citing more pronounced downside risks to the global economy than there were a few months ago.

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Published: 02 November 2015

Economic and market snapshot for October 2015

Global economic developments. Market pushes out rate hike prospects on low wage growth, a firmer dollar and global concerns

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Published: 28 October 2015

SA unemployment edges higher to 25.5% in 3Q15

According to Stats SA’s Quarterly Labour Force Survey (QLFS), total unemployment increased by 188 000 to 5.4 million in 3Q15 from 5.2 million in 2Q15. Over the same time period, the number of employed workers increased by 171 000, leaving the number of employed persons in SA higher at 15.8 million in 3Q15 relative to the 15.7 million recorded in 2Q15.

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Published: 22 October 2015

SA Medium Term Budget – low growth & high wage bill cause fiscal slippage

Against the backdrop of a more subdued global economic recovery and muted domestic prospects, National Treasury has had to revise down their real GDP growth forecasts between FY2015/16 and FY2017/18 by 0.5% (on average), leaving the three-year average close to our own internal forecasts projected at 2%.

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