Base rate unchanged at 7%. Inflation slightly down to 3.3% in August from 3.5% in July.
Trump’s July threat to apply additional 10% tariffs to BRICS+ aligned nations impractical.
Record high for Jo’burg stock exchange is misleading – primarily due to gold price rises.
RSA continues to have a bumpy ride, and the full effects have not yet crystallised. What we can tell you is that it is clear to us that the USA’s recent trade and diplomacy actions are only going to drive RSA further into the BRICS+ fold, rather than see her kowtow to US pressure and fold.
Tariffs
You may recall that back in early July President Trump posted on social media a threat to apply an additional 10% tariff, on top of tariffs already applied to each country, for those aligning themselves with the BRICS+ bloc. His post sparked a series of stinging rebukes from BRICS+ leaders, and appeared to only encourage them to double down in their efforts to improve options to trade in currencies other than the USD. So far, t...
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