Last week, the Fed minutes set the tone, showing unanimous support for September’s hike while signalling another move could come before year-end. Locally, the SARB’s Monetary Policy Review warned that persistent price shocks could trigger second-round effects.
Last week, weaker U.S. payroll growth reduced expectations of an October Fed policy shift. Locally, August fiscal data showed robust tax revenue growth and resilience despite the Middle East shock.
Last week, US treasuries sold off with long dated yields reaching their highest levels in more than two decades. Locally, SA inflation surprised to the downside and the SARB MPC opted to hike the repo rate by 25 basis points to 7.25%.
Our Investments Team explores the decision by the SARB’s Monetary Policy Committee to raise the repo rate by 25 basis points to 7.25%…
Last week, central banks took centre stage as the Iran conflict kept energy prices elevated. The US Federal Reserve raised rates for the first time since 2023 and the Bank of Japan hiked to a 31-year high, while the Bank of England held rates on a split vote. In South Africa, retail sales surprised to the upside and consumer confidence improved ahead of this week’s inflation print and SARB rate decision.
On September 16, 2026, the Federal Open Market Committee (FOMC) raised the federal funds target range by 25 basis points to 3.75%–4.00%, its first rates increase since July 2023 and a decisive reversal of the easing cycle that had run through December 2025. The decision, approved unanimously (12–0) under Chair Kevin Warsh, was explicitly framed as a response to inflation that the Committee described as “elevated,” and the accompanying Summary of Economic Projections (SEP) signalled that further tightening is likely before year-end. This article examines the Committee’s current inflation stance, the data and communications that produced it, what it implies for the likely path of monetary policy through 2027, and the resulting implications for the US dollar.
The Strait of Hormuz carries roughly one-fifth of global oil supply and about a third of global liquified natural gas (LNG). Senior Portfolio Manager Jacques Simpson explores what the unresolved Iran-US-Israel conflicy might mean for markets…
Globally, energy market risks remain elevated on the back of the continued tensions in the Middle East, while locally, South Africa participated in the BRICS Business Forum summit in New Delhi
Last week, a stronger-than-expected U.S. employment report boosted the dollar and reinforced expectations of tighter monetary policy, while South African business confidence weakened and early third-quarter activity indicators remained mixed…
Senior Portfolio Manager Jacques Simpson explores the recent trend of Chinese firms providing free releases of AI models into the market and asks what it might mean for the ‘Magnificent Seven’ stocks that represent roughly one-third of S&P 500 capitalisation…
