Recent data suggest some downside risks to the 2016 economic growth forecast, such as a continued decline in business and consumer confidence as well as the contraction in mining output during both October and November. And while the Barclays Purchasing Managers’ Index increased to just above 50 in January 2017, it had been in negative territory for five consecutive months.
SARB debentures increased by R9,6 billion to R28,0 billion at the end of April 2009. The longer-term reverse repos were mostly unchanged around R7,6 billion. Government deposits at the SARB increased by R2,7 billion; much of this is related to accrued interest.