
South Africa Inflation Expectations Drop to Near Four-Year Low
Average inflation expectations two years ahead — which the central bank's monetary policy committee uses to inform its decision-making — slipped to 4.5% in the second quarter from 4.7% previously, according to a survey released on Wednesday by the Stellenbosch-based Bureau for Economic Research.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures waver with key inflation report, big bank earnings on deck
US stock futures wavered Monday evening as Wall Street girded for a key consumer inflation print and for big banks to kick off earnings season, with tariff-driven concerns in focus for both events. Futures tied to the S&P 500 (ES=F) were down 0.1%. Those on the tech-heavy Nasdaq (NQ=F) were relatively flat after the Nasdaq Composite (^IXIC) closed Monday at its latest record high. Dow Jones Industrial Average futures (YM=F) also slipped 0.1%. Investors are bracing for June's release of the Consumer Price Index, due for release at 8:30 a.m. ET on Tuesday. The report is expected to show the first real signs of a tariff-driven uptick on prices. Headline CPI is forecast to rise 0.3% month over month and 2.4% year over year. Both would represent accelerations from May's data. Read more: The latest on Trump's tariffs Meanwhile, big banks unofficially kick off earnings season Tuesday morning, with JPMorgan (JPM), Citi (C), and Wells Fargo (WFC) all on the docket. The banks will look to assure investors that the tariff-driven turmoil of Q2 is in the rearview mirror and that the wind is at their backs for the second half of this year. In the backdrop of both stories are President Trump's escalatory moves on tariffs over the past week. Trump has spent the last several days threatening key trade partners, most notably Canada, the European Union, and Mexico, with high duties from Aug. 1. The president said Monday that he is open to continue talking but also repeated a recent refrain that the letters he has sent to trade partners "are the deals." Read more: Full earnings coverage in our live blog The tariffs drama and the inflation and earnings pictures also factor into the Federal Reserve's next move on interest rates, coming in just over two weeks. The vast majority of bets are on a hold this month, followed by a rate cut in September. Of course, Trump has spent the past few weeks pushing for more cuts. He and his allies are beefing up their criticism of Fed Chair Jerome Powell, both on rates and on new fronts, like the Fed's headquarters renovation, with one top contender to replace Powell suggesting it could be grounds for his removal. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Retail spending heats up in June due to warm weather
UK retailers saw sales lift higher in June as warmer weather helped drive more shoppers onto the high street, according to new figures. Fresh data from the British Retail Consortium (BRC) showed shopping activity swung higher for the month as sales of fans and sportswear rose sharply due to the recent hot spell and sporting events such as Wimbledon. The monthly BRC-KPMG retail sales monitor revealed that total UK retail sales increased by 3.1% in June year-on-year, compared with a 0.2% in the same month a year earlier. This was also particularly buoyed by an increase in food sales, which grew by 4.1% for the month on the back of accelerating price inflation. Recent figures from the trade group showed that food inflation increased to 3.7% in June, while fresh food was 3.2% more expensive than a year ago. The BRC found that non-food sales increased by 2.2% in June, with similar rates of growth across online and in stores. Helen Dickinson, chief executive of the BRC, said: 'Retail sales heated up in June, with both food and non-food performing well. 'The soaring temperatures increased sales of electric fans while sports and leisure equipment was boosted by both the weather and the start of Wimbledon. 'Food sales remained strong, though this was in part driven by food inflation, which has risen steadily over the course of the year.' Linda Ellett, UK head of consumer, retail and leisure at KPMG, said: 'Home appliances and homeware purchases helped retail sales to grow in June, as new homebuyers and those having a refresh in their current home took advantage of summer promotions both in-store and online.' Nevertheless, similar spending data from Barclays painted a slightly different picture, pointing towards a marginal dip in monthly spending. It reported that consumer card spending was 0.1% lower in June, as essential spending dropped for the month. Barclays said essential spending was down 2.1% for the month, according to its card data, despite the improvement in weather. It, however, highlighted that sporting events and festivals helped drive an uptick of non-essential spending, with entertainment, hotels and travel spending all higher. The figures also showed that furniture retailers saw a strong month, with an 8.2% increase in sales. The overall dip came despite surveyed customers indicating that their confidence about their finances is at its strongest level for four months. Karen Johnson, head of retail at Barclays, said: 'Despite the warm weather, which usually boosts non-essential sectors such as retail and hospitality, consumers spent cautiously in June, prioritising value as they navigate economic uncertainty. 'Encouragingly, entertainment, beauty and furniture stores bucked the trend, while confidence in household finances improved, showing consumers' willingness to spend on the things that matter most to them.'
Yahoo
2 hours ago
- Yahoo
Bank of England could cut interest rates faster if jobs market slows, Bailey says
The Bank of England (BoE) is ready to lower interest rates further if the UK job market begins to show clear signs of slowing down, according to governor Andrew Bailey. Speaking in an interview with The Times, Bailey expressed a cautious yet optimistic outlook, suggesting that 'the path is downward' for interest rates, currently set at 4.25%. While the next Bank of England meeting is scheduled for 7August, with many economists expecting a rate cut, the central bank's stance remains "gradual and careful" as inflation remains above target. Bailey said the UK's economy was growing behind its potential, opening up "slack" that would help to bring down inflation. He said: 'If we saw the slack opening up much more quickly, that would lead us to a different conclusion. 'I think the path [for interest rates] is down. I really do believe the path is downward but we continue to use the words 'gradual and careful' because … some people say to me, 'Why are you cutting when inflation's above target?'" Read more: FTSE 100 LIVE: London up and European markets dip amid fresh Trump tariff threats Slack refers to the amount of unused resources in an economy, such as working factories that are not producing anything or people who cannot find a job. Bailey's comments come amid growing market speculation, with investors now pricing in an 85% chance of a rate cut, up from 76% just a week earlier. The City is anticipating a 0.25 percentage point reduction, which would bring the BoE's key interest rate down to 4%, but market analysts are keeping a close eye on upcoming data, particularly inflation and employment figures. Victoria Scholar, head of investment at Interactive Investor, noted that the weak GDP figures, coupled with deteriorating jobs data, strengthen the case for a rate cut in August. 'Friday's disappointing GDP figures, combined with these weak jobs figures boost the case for the Bank of England to cut interest rates in August. The central bank's governor Andrew Bailey told The Times 'slack' was opening up in the labour market, and he believes 'the path is downward' for interest rates. 'All eyes are on Wednesday's inflation report with CPI expected to remain at remain around 3.4% in June, roughly unchanged for the third consecutive month.' Enrique Diaz-Alvarez, chief economist at Ebury, said the upcoming employment data could provide crucial insights into the health of the UK economy. 'Thursday's publication of the May/June employment data is critical, perhaps even more so than Wednesday's inflation report, which is expected to show little change from the previous month. By Thursday afternoon this week we, and the Bank of England for that matter, should have a clearer view of the extent of weakness in UK economic data. 'Last week's dismal monthly GDP print for May was not at all an optimistic sign, as this almost guarantees that Britain's economy contracted on a quarterly basis in the second quarter. Not only does this make an August rate cut from the Bank of England increasingly likely (almost 90% priced in by swap markets), but it also raises the risk of additional tax hikes in the autumn, which now seem practically inevitable.' Treasury minister Darren Jones hinted at the possibility of freezing income tax thresholds beyond 2028 in a bid to balance the public finances. Though Jones clarified that the government had no immediate plans to extend the freeze, he left the door open to further adjustments in the future. In an interview on ITV's (ITV.L) Good Morning Britain Jones said: 'The thing I can tell you is that our manifesto commitment coming into this election was that we were not going to increase the headline rate of income tax or employee national insurance on working people in the pay slips that people get when they go to work or on VAT because we know that that disproportionately affects people on lower incomes because they spend more of their money on the day to day shop, essentially." Read more: Pound hits three-week low as Bank of England governor hints at interest rate cut Bailey pointed to signs that businesses are adjusting employment practices and limiting wage growth as a result of the government's increase in national insurance contributions (NICs). From April 2023, UK employers saw a rise in NICs from 13.8% to 15%, expected to generate £25bn annually. Official figures recently revealed a drop in job vacancies, which fell to 736,000 in the three months leading to May, the lowest level since the height of the COVID-19 pandemic in 2021, when many businesses halted hiring. This, combined with declining economic growth, suggests that the UK labour market may be cooling. Jones, however, downplayed the broader economic impact of the government's tax policies. 'We've created hundreds of thousands of new jobs across the economy, and in the first quarter of this year, the UK had the fastest-growing economy in the G7,' he said. 'Of course, we had that particular tax decision in the budget last year, because our commitment was to protect working people in their pay slips. And I recognise the independence of the bank governor.' Read more: Chinese EVs take off in the UK as BYD closes in on Tesla Trending tickers: Lionsgate, Nio, Boeing, AstraZeneca and Fresnillo Bitcoin price hits all-time high as 'crypto week' begins擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤