SSA CORE OUTLOOK: 18 TO 22 MARCH 2019
20 March: South Africa’s February CPI, January retail and wholesale trade sales as well as a compendium of data in the SARB’s Quarterly Bulletin. Headline inflation printed 4.0% y/y in January which was the lowest reading since April 2018. Food inflation continues to run at a subdued rate (2.3% y/y in January), putting a lid on overall inflation, while higher fuel prices are a key upside risk. The QB will include detail on the financing of the country’s current account deficit (3.5% of GDP in 2018). In Ghana, February PPI (3.4% y/y) data are due for release.
22 March: Kenya S&P credit ratings update. Standard & Poor’s is expected to release its latest review on its B+/B (stable) ratings on Kenya. Last week the agency affirmed both Ghana’s and Nigeria’s long-term ratings at B/B with stable outlooks. Statistics Mauritius publishes trade numbers for January. The country’s trade deficit narrowed somewhat to MUR9.9bn in December but the deficit for the year 2018 as a whole was larger at MUR112bn compared to MUR100bn in 2017.
DISCLAIMER: CORE-LINES IS PRODUCED BY DUMISANI NGWENYA AND HIGHLIGHTS DATA AND EVENTS UPCOMING IN SELECTED COUNTRIES IN THE REGION. IT IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. FINAL DATES ARE DECIDED BY LOCAL AUTHORITIES. ALL RIGHTS RESERVED