Reserves – January ’26
South Africa’s gross gold and foreign exchange reserves increased to $80.2bn in January from $75.9bn in December.
Recap & Outlook: 2 Feb ’26
Recap & Outlook is a single report focused on the key developments of the week.
Vehicle sales – January ’26
Domestic new vehicle sales grew by +7.5% y/y in January, down from +19.2% y/y in December. However, on a month-on-month
Budget & Trade Balance- December ’25
More GFECRA funds disbursed & seasonal deterioration in trade balance.
Private Sector Credit – December ’25
Private sector credit demand growth improved to +8.7% y/y in December from +7.8% y/y in November.
Analysis of MPC Statement Jan ’26
One had thought that there might be a chance of a third consecutive cut of 25bpts in the repo rate
Prime rate removal: Temper expectations
If the prime rate is eventually removed, it should be seen as an incremental institutional improvement rather than a catalyst
Gold’s surge reflects massive instability in paper money
The price of gold has risen dramatically in recent days, eclipsing the most bullish expectations.