Some EM currencies are performing very well against the USD. This is the case, for example, with the South African ZAR, and even more so with South American currencies such as the Mexican peso (MXN) and the Brazilian real (BRL). The peso has returned to levels very close to those seen in 2023 and early […]
South Africa enters 2026 on a cautiously constructive trajectory. Headline inflation moderated to 3.6% in December, enabling the South African Reserve Bank (SARB) to maintain its policy rate at 6.75% at its late-January meeting. This calibrated stance underscores rising institutional credibility around the SARB’s revised 3% inflation target, lowered from the previous 4.5% midpoint, and […]
