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Brief note intended as a more regular interface with our clients. The emphasis is to provide our interpretation of important economic events, such as South African Reserve Bank interest rate statements, and key data releases, including GDP growth figures.
As widely speculated over the past week and indeed for months, President Jacob Zuma announced a broad-based cabinet reshuffle late on Thursday evening. At this early stage, our judgement is that the downside risks to the domestic economy have increased notably over the past 24 hours.
