Europe， Middle East and Africa Emerging Markets Weekly

J.P.Mor Europe Emerging Markets Research 12 August 2024 Europe, Middle East and Africa Emerging Markets Weekly Inflation risk assessment key to SARB policy outlook In our view, the likelihood of a larger than previously forecasted 25bp cut in September has now risen to 40% - 50%, but FX pressures and services inflation risks will determine the eventuality. In recent months, the SARB had remained cautious and hesitant to start an easing cycle, even as local political and fiscal risks diminished. A key argume ...