The day is finally upon us – p rominent central bankers, finance ministers, econ omists and market participants have all made their way to Jackson Hole, Wyoming for the Fed’s annual symposium that kicked off yesterday. On occasions, former US Fed C hairman, Ben Bernanke, used this pl atform to indicate major changes in monetary policy. Back in 2012, Bernanke ...
Read moreFitch ratings agency quietly downgraded South Africa’s local currency Long – Term Issuer Default Rating to BBB – with a stable outlook, aligning it with the foreign currency rating , as one notch above junk status. This was due to the rating agency making changes to its sovereign methodology, consequently leading to 22 other countries also experiencing sovereign downgrades. The...
Read moreFitch ratings agency quietly downgraded South Africa’s local currency Long – Term Issuer Default Rating to BBB – with a stable outlook, aligning it with the foreign currency rating , as one notch above junk status. This was due to the rating agency making changes to its sovereign methodology, consequently leading to 22 other countries also experiencing sovereign downgrades. The...
Read moreInvestor optimism returned towards the end of the week, buoyed by the expectation that the major central banks will remain supportive of financial markets and stronger than expected US economic data. The minutes from the last US Fed meeting showed that officials were losing confidence in the need to tighten monetary policy any time soon and that the May slowdown...
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