Core Lines

SSA CORE OUTLOOK: 25 FEBRUARY TO 1 MARCH

26 February: Bank of Botswana rate decision. The BoB is expected to follow the broad trend in the region by remaining on hold. Inflation remains subdued but the upcoming CPI rebasing and reweighting induces some uncertainties. This week, the BoB may also release its annual MPS. In South Africa, the SARB is due to publish its monthly BCIs.

27 February: Nigeria Q4’18 trade statistics.

28 February: Kenya, Uganda and Zambia February inflation. Headline rates were 4.7% y/y, 2.7% and 7.9% in January, with Zambia’s outcome slightly below the upper-end of the 6-8% target. Zambia will also publish trade numbers for January. The trade deficit narrowed sharply in to ZMW286mn in December. In South Africa the January PPI (Dec: 5.2% y/y), January trade statistics and the SARB’s credit and money supply statistics are due. In Nigeria, the CBN is set to release its February manufacturing (Jan: 58.5) and non-manufacturing (60.1) PMIs. The Bank of Botswana will publish its monthly financial statistics while Mauritius releases its January PPI (Dec: 2.8% y/y).

1 March: South Africa’s February Manufacturing PMI and Vehicle Sales. The Absa PMI eased to 49.9 in January (Dec: 50.7). Aggregate vehicle sales saw a weak start to the year falling 7.4% y/y, but export sales posted an encouraging gain of 29.4% y/y.

Read the full report…

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.

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