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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: 06 March 2018

Growth surprised positively in the final quarter of 2017

GDP increased by 3.1% in the fourth quarter of 2017 in quarter-on-quarter seasonally-adjusted terms and printed significantly higher than the consensus forecast for a 1.8% rise.

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Published: 02 March 2018

Monthly economic and market snapshot - February 2018

Global equity markets tumbled 7.5% by the second week of February 2018 on concerns that higher-than-expected inflation would lead to a more rapid tightening of interest rates by the US.

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Published: 22 February 2018

2018 National budget review: Tackling the fiscal wounds

In an immediate reaction to the budget announcement, the rand appreciated by 0.8%, while SA government bond yields (R186) rallied by 9 basis points.

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Published: 21 February 2018

Further ease in headline inflation

A favourable inflation trajectory leaves room for modest monetary policy easing in upcoming months.

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Published: 19 February 2018

2018 National budget preview: Testing government’s fiscal mettle

Firmer growth expectations, higher revenue collection and deeper expenditure cuts should support faster fiscal deficit reduction in the medium term.

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Published: 19 February 2018

2018 State of the nation address

Challenges acknowledged, but hopes raised for an economic overhaul.

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Published: 01 February 2018

Economic and market snapshot for January 2018

Global equity markets had a stellar start to the year. The MSCI All World Index gained 5.6% by the end of January 2018, supported by a robust performance in developed and emerging markets.

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Published: 18 January 2018

Interest rates maintained at 6.75%

The South African Reserve Bank Monetary Policy Committee views the potential for additional sovereign rating downgrades and volatility in international oil prices as the main risks to setting monetary policy.

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Published: 16 January 2018

Economic outlook for 2018

The stage looks set for a continued, broad-based expansion in the world economy in 2018.

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Published: 16 January 2018

Financial market outlook for 2018

Fundamentals and valuations should continue to support the outperformance of global equities over bonds in 2018.

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