South Africa is still reeling from this week’s surprise last minute Budget postponement due to divisions within the ruling coalition. We suspect some form of compromise will be reached in the coming weeks, but further fissures in the GNU could damage market sentiment. Elsewhere, Nigeria’s central bank seemed confident at this week’s MPC meeting that it is winning the fight against inflation. But we think the revamp of the CPI data, and lack of a historic series, will delay how quickly it can confirm its inflation battle is really over.
Drop-in: We will be hosting an online briefing to discuss EM financial risk and the latest update of our risk indicators. Join us on Wednesday 26th February at 15.00 GMT. Register here.
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