Monthly Update
This month’s newsletter brings you the latest local and global economic highlights.
On the local front, South Africa’s resources sector continued its strong run in August, delivering an impressive 12% return and once again leading the way as the best-performing sector.
Globally, the US Federal Reserve kept its federal funds rate unchanged at 4.25–4.50%, holding its policy stance despite mounting political pressure from President Trump to cut rates. Meanwhile, the August Jobs Report came in weaker than expected, with only 22,000 new jobs added compared to the anticipated 75,000 — raising fresh questions about the pace of US economic growth.
We’ve also included a graph that tracks the US vs SA inflation differential from 2000 to 2025. Encouragingly, the lower volatility in South African inflation over the past decade has had a positive impact on this differential, supporting greater economic stability.
👉 Read more in our Monthly Market & Fund Update.
Summary – August ’25
