SSA CORE OUTLOOK: 22 TO 26 JULY 2019
22 July: Mauritius trade statistics.
23 July: IMF WEO Update and Nigeria’s MPC decision. In its April 2019 World Economic Outlook, the IMF indicated that global growth could slow to 3.3% this year. The Fund specifically pointed out that risks are tilted to the downside, partly due to the potential effects of an escalation in global trade tensions.
24 July: Kenya’s rate announcement and South Africa’s CPI. The Central Bank of Kenya has kept the CBR unchanged at 9.00% since a 50bp cut in July 2018. South Africa’s headline inflation is expected to have remained broadly stable in June (May: 4.5% y/y).
25 July: Zambia’s July inflation and South Africa’s June PPI release. Zambia’s inflation rose to 8.6% y/y in June, reaching the highest rate in two and a half years. Today, also look out for May trade statistics from Botswana, which especially provide insight on activity in the country’s all-important diamond industry.
26 July: Angola’s BNA rate decision. The BNA has been cautiously easing rates since July 2018, on the back of persistent recession, a contraction in base money and declining but still elevated inflation.
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.