Economic and Market Overview | April 2023 in review

Download the April 2023 in review Economic and Market Overview

The US Federal Reserve’s Open Market Committee (FOMC) increased their official lending rate by another 0.25% early in May. It is now in the 5% to 5.25% range. Notably, the Fed dropped from its policy statement language that it "anticipates" further rate increases would be needed. At a press conference following the release of the statement, Fed Chair Jerome Powell said inflation remains the chief concern, and that it is therefore too soon to say with certainty that the rate-hike cycle is over.

Loadshedding in South Africa shows no signs of abating. Despite the appointment of a minister with only one job, South Africans have, in the first quarter of 2023 alone, suffered as much loadshedding as they had for the first three quarters of last year, and in no other year prior to that. Read more