Recap & Outlook: 23 Mar ’26
Recap & Outlook is a single report focused on the key developments of the week.
Absence of rate cuts endorsed by Fed
As expected, the Federal Open Market Committee of the US Fed left the Fed Funds rate unchanged in a range
Markets are still not in panic mode
We remain in a situation of market uncertainty. Markets are clearly more cautious than they were last week, but there
Interest rate cuts off the table
In a dramatic week of massive volatility in oil prices, the war in Iran heightened fears of sharply higher fuel
Update on potential fuel price increases and inflation
Even though the immediate inflationary impact of recent fuel price increases is dramatic, it has come to our notice that,
Oil shock: Scenarios for SA inflation
The current Middle East war continues to evolve rapidly. As such, its impacts change daily.
Q4 economic performance similar to Q3
The South African economy in Q4 grew very much in line with the patterns seen in Q3. Whilst the economy’s
Oil shock a growing risk for SA
The current economic environment remains murky. Much will depend on whether the war (and the oil shock) proves temporary.
Petrol price and inflation set to rise dramatically
The key economic takeaway from the outbreak of the Iran war this past week was a dramatic 28% rise in
Retail sales – January ’26
Domestic retail sales (inflation-adjusted) grew by a welcome +4.2% y/y in January, beating estimates of +2.9% y/y and improving from