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Today’s South African Reserve Bank Rate Hike of 25 Basis Points Was Less Than Predicted
January 26, 2023
Instead of a 50-basis point rate hike to 7.50% by a 3-2 vote of policymakers, the five-person Monetary Policy Committee voted 3-2 to increase South Africa’s repo rate to 7.25%. The interest rate had been at 6.5% coming into the pandemic year of 2020 and was sliced to 3.5% in five moves by May of […] More
Deeper Analysis
Takeaways from Today’s U.S. Data Releases
January 26, 2023
Quarterly U.S. real GDP growth of 2.9% annualized in the final quarter slightly exceeded expectations and was only marginally slower than the third quarter’s 3.2% pace. Despite back-to-back contractions of 1.6% in 1Q and 0.6% in 2Q, GDP still managed to expand on average by 2.1% in 2022 after the prior year’s rebound of 5.9%. […] More
New Overnight Developments Abroad - Daily Update
Investors Marking Time Ahead of Several U.S. Data Releases Today Including the First Estimate of GDP Last Quarter
January 26, 2023
In U.S. stock market futures trading overnight, the S&P 500 and DOW are hardly changed, while better-than-expected reported Tesla profits goosed the Nasdaq. Hong Kong’s stock market reopened with a 2.4% advance, but China remains shut until next week. Japan’s Nikkei dipped 0.1%. In Europe, the Dax is off less than 0.1%. The British Ftse […] More
