South Africa is often seen as a high-beta play, be it regarding financial market risk aversion, or political uncertainty and corruption. Yet we have displayed remarkable exceptionalism over the past year, rarely featuring on the global political risk radar or suffering from capital flight.

Carmen Nel, Economist and Macro Strategist, Matrix Fund Managers believes SARB getting ahead of the curve.

The SARB Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3.5% in a unanimous decision.

A decade ago, few of us would have contemplated the idea of negative monetary policy rates, let alone negative market-determined bond yields.