Global ratings S&P has revised Botswana’s outlook to negative from stable due to the higher pressures on Botswana’s economic, external and fiscal performance over the next two years considering the covid-19 crisis and the impact on diamond exports. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.
The South African Reserve Bank has done a considerable amount of heavy lifting. This year alone, the repo rate was cut by 300 basis points. For many, it is no surprise that the bank decided to keep the rate unchanged, in its latest MPC meeting. In addition, the Reserve Bank has changed its forecast for GDP contraction in 2020, to 8.2 per cent. Investec Chief Economist, Annabel Bishop joins CNBC Africa for more.
The South African Reserve Bank is set to announce its policy rate decision this afternoon, will analysts divided on whether rates will remain unchanged or cut by a further 25 basis points.
Nigeria's economy is expected to contract further in the coming quarters, however, the Central Bank says its outlook is mildly optimistic. Joining CNBC Africa’s Christy Cole for an assessment of the Nigerian economy ahead of the country’s expected inflation numbers and September MPC decision is Johnson Chukwu, CEO, Cowry Assets.
After review from the country’s monetary policy meeting, Rwanda’s Central Bank has maintained the repo rate at 4.5 per cent as the country’s economy starts to bounce back from the shocks of the COVID-19 pandemic, CNBC Africa’s Arnold Kwizera spoke to the Central Bank Governor, John Rwangombwa for more.
BNP Paribas South Africa expects that the velocity of money and its relationship to inflation in the South Africa economy should play an important role in guiding future monetary policy decisions. Joining CNBC Africa for more is Jeff Schultz, Senior Economist at BNP Paribas South Africa.
Angola’s Central Bank will be announcing their MPC decision this afternoon with analysts suggesting that a rate cut is unlikely, as they haven’t done so this year despite the economy facing many challenges in the wake of COVID-19 and a steep decline in oil prices. Rui Oliveira, CEO at BFA Asset Management joins CNBC Africa for more.
Ahead of Ghana’s MPC rate decision today, the Bank of Ghana’s economic activity indicator has shown a fall of 10.6 per cent in May, whilst consumer and business confidence levels have rebounded amid their sharp declines in April. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.