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SA’s Economic Outlook Remains Buoyant
Source: Bua News
Source Date: Wednesday, November 17, 2010
Focus: Institution and HR Management
Country: South Africa
Created: Nov 18, 2010

Mohr attributed his estimations to a strong comeback by the world economy in 2010, rebounded commodity prices, sustained appetite for commodities and a return to positive growth by developed nations and emerging markets.

 

“Another issue supporting our positive outlook is improved household spending,” said Mohr.

Household spending is expected to improve by between four and five percent.

 

He said the US is likely to retain its title as the largest economy but that emerging markets would sustain their growth rates.

 

Head of Portfolio Modeling at Citadel, Maarten Ackerman, said investors should be wary that higher economic growth in emerging markets is no guarantee for higher returns on investments.

 

“The investment return will not be determined from the economic growth in emerging market countries, but rather from the price you paid for these investments,” said Ackerman.

 

Today, the Reserve Bank’s Monetary Policy Committee (MPC) began its two-day meeting on interest rates.

 

The repo rate at the MPC’s last meeting was cut by 50 basis points to six percent. Mohr said it is likely that the central bank will cut the repo rate by another 50 basis points.

 

Governor Gill Marcus will announce the MPC’s decision tomorrow. -

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