18 Apr.
Nedbank Weekly Economic Monitor: Review of 11 to 15 April and preview of 18 to 22 April 2011
- The rand was pressured by profit taking last week.
- Mining production remained firm in February, but the annual growth rate moderated to 2,8 % from 3,2 % in January.
- Concerns that Greece might default on its debt and that the Federal Reserve may begin tightening monetary policy, eroded investors’ confidence last week and put downward pressure on equities.
- US consumer inflation rose at its fastest pace in 15 months in March, increasing to 2,7 % y-o-y, as a result of rising food and petrol prices.
- In the eurozone, consumer inflation rose to 2,7 % in March, up from 2,4 % in February, due to higher transportation and housing costs, while consumer inflation in the UK fell unexpectedly in March, easing to 4 % from 4,4 % in February.
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