Candice
@Candice_IIF
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Economist (South Africa, SSA) CEEMEA Research @IIF Former Economist @Nedbank and Macroeconomic Research @sarstax
United States of America
Joined August 2022
RT @Candice_IIF: Kenya's C/A has always been cushioned by diaspora remittances. This is expected to continue to provide much needed support….
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RT @IIF: 🔠Views on Africa: @Candice_IIF shares #macroeconomic projections for the South African economy, noting improved investor sentimen….
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RT @IIF: ICYMI: Economist @Candice_IIF shares in a new note: as in most countries, the biggest risk to the South African #economicoutlook i….
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RT @MarcelloEstevao: (2/2) Better fundamentals combined with low inflation and looser monetary policy have enhanced the outlook for economi….
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RT @News24: A week after the elections, it is not clear if South Africa will have a government of national unity or a minority government,….
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After the news about Lady R settled, investors flocked back to South African debt instruments. This helped support the ZAR somewhat and lends support to external balances.
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Despite a relatively hawkish tone, the CBN raised rates by just 25 bps to 18.75% . This is insufficient given the level of inflationary pressures that are building up. More needs to be done to stabilize the NGN and prices.
Inflation in @Nigeria is expected to surge in the coming months on the back of the devaluation, removal of the fuel subsidy and the reduction in the CRR to 10%. In order to make real rates more attractive for investors, the CBN needs to ramp up rates, rapidly!
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RT @AntonEberhard: Here's @Eskom_SA's estimate of how much rooftop solar PV has been added (cumulatively) in South Africa. It reduce the re….
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Kenya's C/A has always been cushioned by diaspora remittances. This is expected to continue to provide much needed support. But is it going to place additional strain on the FX reserves and the KES? Probably!
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The @SAReserveBank doves won in a 3-2 split vote to keep rates on hold at 8.25%. Q2 inflation came in lower than the projected, likely swinging today's decision. This should be the end of the hiking cycle unless significant risks to the ZAR materialize.
The ZAR regained good ground over the past week. But inflation expectations remain far from target and chances of further tightening by the Fed makes the case for one more 25 bps hike at this week's @SAReserveBank MPC meeting.
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RT @News24: BREAKING | Putin will not be attending BRICS summit in SA 'by mutual agreement'.
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The ZAR regained good ground over the past week. But inflation expectations remain far from target and chances of further tightening by the Fed makes the case for one more 25 bps hike at this week's @SAReserveBank MPC meeting.
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RT @UgrasUlkuIIF: The market is pricing cuts in key policy interest rates in the CEE-3 region, especially in #Hungary, while the market pri….
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Inflation in @Nigeria is expected to surge in the coming months on the back of the devaluation, removal of the fuel subsidy and the reduction in the CRR to 10%. In order to make real rates more attractive for investors, the CBN needs to ramp up rates, rapidly!
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One month since the unification of FX in Nigeria. The gap between official and parallel rates widen as demand for FX continues to outweigh supply. The parallel rate weakened by ~7% but the official rate slumped ~24% since. More reform is needed to stabilize the FX market.
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RT @SAReserveBank: Governor @KganyagoLesetja will on Tuesday, 11 July 2023, deliver the International Monetary Fund’s 2023 Michel Camdessus….
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The ZAR remains far from its pre-Covid level. Depreciation this week even after better than expected power outages and President Ramaphosa being cleared from Phala-Phala allegations. Global dynamics seem to be dominating right now.
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RT @UgrasUlkuIIF: Nigerian authorities allowed the Naira to fall by 30% in mid-June. Markets are expecting additional depreciation, given s….
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