Colen Garrow
Colen Garrow
amount currency exceed foreign funds government held limits offshore private situation taken thus vehicle via
In such instances, funds held offshore may potentially exceed the R750Â 000 ceiling, which limits the amount of funds which may be taken offshore via the vehicle of private foreign currency accounts. The situation as it is, is thus inequitable and will have to be addressed by government at some stage.
disposable employed income money retail south spent
In short, more South Africans employed suggests more disposable income and more money being spent on retail goods.
demand global growing itself local modest number pulling sector slump strength though
It's a modest number but it could be better were it not for the rand. The sector is growing on strength of local demand and it does look as though global manufacturing is pulling itself out of a slump - but we are not out of the doldrums yet.
code considered exchange good hardly interest issue likely matter moral observers rand rate
Another issue likely to resurface is the matter of 'a more competitive exchange rate', deciphered as code for the rand to weaken. Moral suasion such as this may be good for export-biased manufacturers, but will hardly be considered good for observers of inflation, or long-term interest rate markets.
annual budget growth likely line reaching target
It's likely to be a pro-growth budget in line with the government's target of reaching annual GDP growth of 6% by 2010.
interest meets next rates
The SARB will probably do nothing with interest rates when it meets next week.
business estate mining relative sector service size
The relative size of the mining sector is dwarfed by the contribution of the finance, real estate and business service sector's 19,5%.
alter case cement developing economy hike interest market move needs next numbers rates side stance
This is going to cement the case to hike interest rates. The numbers do nothing to alter the stance now developing in the market that the next move in interest rates will be up. The consumption side of the economy needs to be slowed.
activities currency goods impact imported persistent similar strength
Persistent currency strength has had a detrimental impact on export-based activities in the manufacturing sector, making similar imported goods more competitive.
aggressive ammunition drive fiscal growth household monetary necessary relief showing signs
Fiscal relief may be the ammunition necessary to drive consumption expenditure but with it not being accompanied by aggressive monetary relief, growth in household consumption expenditure is showing signs of consolidation.
allow attract committee concerned credit element growth inflation introduce last monetary month policy sufficient
The monetary policy committee cautioned last month that it may not allow growth in credit to go unchecked, inferring that it may be concerned that consumption expenditure could introduce an element of inflation sufficient to attract a monetary tightening response.
above account balance considered currency current deficit exports flag generally mark restore weakness
The current account deficit is above the 3% benchmark, a high-water mark generally considered to flag pending currency weakness to restore a balance between exports and imports.
although global looks persistent pick recovery remains sector strength threatened
The manufacturing sector remains threatened by the persistent strength of the rand, although it should pick up from what looks to be a recovery in global manufacturing.
economy grow irony looking needs saying shows south
The irony is that it wasn't so long ago that South Africans were saying that the economy needs to grow at 3%. Now we're looking at 3,3% and saying it's dismal. It shows how the expectations have shifted.