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Nedbank revises economic growth downwards, cites Middle East strife
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Nedbank revises economic growth downwards, cites Middle East strife
As the economic outlook for South Africa worsens due to the conflict in the Middle East, which has spiked oil prices, banking group Nedbank has revised the economic outlook, predicting a spike in inflation, no interest rate cuts in 2026 and economic growth of just 1.3%. Jason Quinn, Nedbank chief executive, said they had initially expected a gradual recovery in South Africa, which was supported by stable inflation and lower borrowing costs. At t…
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