Posts Tagged ‘Tito Mboweni’

Moody’s Downgrades South Africa to Junk

Moody’s Investors Service issued its junk status rating after close of trade on Friday 27th March, stripping South Africa (“SA”) of its last remaining investment-grade rating. SA’s international credit rating is now below investment grade by all three credit rating agencies, namely Moody’s, Fitch and Standard and Poor’s. The move was expected in the face…

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#Budget2020: Budget Highlights

The 2020 South African Budget delivered by Treasury yesterday is focussed on doing the right things: Directly addressing the elevated civil service wage bill by cutting it, rather than increasing taxes. Rebalancing expenditure towards capital from consumption; and Being mindful of negatively impacting economic growth amid its fiscal consolidation efforts.   Budget Framework The main…

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Time to hold your breath…it’s Budget week

Hold on to your seats and your wallets – it’s Budget week and whichever way one looks at it, it’s bound to be something of a roller-coaster week, particularly for the rand. Markets and investors are losing faith in the reform narrative and promises of President Cyril Ramaphosa’s government, whether justified or not. Having been…

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Week in Review: Global equities grind higher

U.S. stocks posted solid gains, closing near record highs. Earnings continue to drive market action, with third-quarter results so far coming in better than feared. Technology, communications services and financial stocks powered the rally. Of the roughly 40% of the companies in the S&P 500 that have reported so far, 80% of them had results…

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