ECONOMIC AND MARKET OVERVIEW
NOVEMBER IN REVIEW
An advisory panel established by SA’s parliament found there are grounds for lawmakers to investigate President Cyril Ramaphosa in connection with a scandal over a robbery at his game farm. “In light of all the information placed before the panel, we conclude that this information discloses, prima facie, that the president may have committed” violations of sections of the constitution, it said in the report published at the end of November. President Ramaphosa has called on the Constitutional Court to dismiss the report.
South Africa’s central bank delivered another substantial interest rate increase, prolonging its most aggressive monetary policy tightening cycle in at least two decades as it tries to tame inflation. The monetary policy committee raised the benchmark rate to 7% from 6.25% and the prime rate from 9.75% to 10.5%.
