STANLIB Podcasts

In this podcast, STANLIB’s Chief Economist, Kevin Lings, touches on China’s sustained economic growth, largely on the back of strong exports as it is selling to other markets and using them as a conduit to the US. He also discusses the 2.7% y/y inflation rate in the US in June, which is likely to escalate above 3% as import tariffs bite. As a result of continuing uncertainty, the US Federal Reserve remains in “wait and see” mode on interest rate cuts.

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STANLIB Asset Management (Pty) Ltd is an authorised Financial Services Provider in terms of the FAIS Act. This should not be construed as advice.

In this podcast, STANLIB’s Chief Economist, Kevin Lings, discusses President Trump’s extension of the deadline to 1 August to 20 countries to negotiate trade deals with the US or face tariffs of 30-40%. The threat raises various uncertainties: around the limited time to negotiate, what the final tariffs will be, implications of the tariff on copper, and contradictions in the threats he has made to various trading partners. Kevin analyses the muted market reaction and likely effect on US interest rates.

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STANLIB Asset Management (Pty) Ltd is an authorized Financial Services Provider in terms of the FAIS Act. This should not be construed as advice.

In this podcast, STANLIB’s Chief Economist, Kevin Lings, analyses latest US jobs data, which showed 147 000 jobs were created in May, above market expectations, while the unemployment rate fell to 4.1%. However, the private sector contributed about half the normal number of jobs and other surveys showed a similar softening trend in job creation. Kevin explores some of the factors behind this trend and what could happen in the longer term.

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STANLIB Asset Management (Pty) Ltd is an authorized Financial Services Provider in terms of the FAIS Act. This should not be construed as advice.

In this podcast, STANLIB’s Chief Economist, Kevin Lings, examines various indicators of a slowdown in the US economy, whether it is experiencing inflationary pressures and the possibility of the US Federal Reserve cutting rates. He also analyses positive and negative data releases in SA last week, including a fall in the Producer Price Index (PPI) but an increase in unemployment.

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STANLIB Asset Management (Pty) Ltd is an authorized Financial Services Provider in terms of the FAIS Act. This should not be construed as advice.

In this podcast, STANLIB’s Chief Economist, Kevin Lings, points out that SA’s May CPI rate, at 2.8%, shows inflation remains well under control, although there is likely to be pressure in coming months from higher food and oil prices. He discusses what this means for the SARB’s plans to launch a new inflation target of 3% later this year.

The US Federal Reserve’s latest decision to keep interest rates unchanged was not surprising, Kevin says. More interesting was that the Fed reduced its forecasts for US economic growth and raised its estimate of US inflation for 2025, and what this means for US interest rates.

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STANLIB Asset Management (Pty) Ltd is an authorized Financial Services Provider in terms of the FAIS Act. This should not be construed as advice.

Welcome to the STANLIB Corporate Conversations Podcast Series – our newest resource designed to offer timely, expert insights into the forces shaping financial and fixed income markets. Our first episode focuses on a significant development in South Africa’s financial landscape — the transition from the long-standing Johannesburg Interbank Average Rate (JIBAR) to the South African Rand Overnight Index Average, better known as ZARONIA.

In this short and informative episode, Tarryn Sanker, STANLIB Head of Credit: Fixed Income, speaks to Eulali Gouws, STANLIB Head of Money Market, to outline the key timelines for the transition, which is set to take place in December 2026. She also explores the implications of this shift for money market and fixed income funds.

Any commentary or forecasts indicated in this document are for information purposes only and not guaranteed to occur. Additional information about products/funds is available on the Minimum Disclosure Document/Factsheets which can be obtained from the website (www.stanlib.com).

STANLIB is an authorised Financial Services Provider in terms of FAIS and a registered representative manager in terms of CISCA.

In Q1 2025, the South African economy grew by 0.1% q/q and by 0.8% y/y. Over 10 years, it has grown by 0.7% a year on average while the population is growing at 1.4% a year. STANLIB Chief Economist Kevin Lings discusses sector-specific performances and policies that could stimulate growth, including infrastructure investment and deregulation.

Latest US labour market data shows the economy continues to add jobs faster than the growth in new entrants. In May, the unemployment rate was unchanged at 4.2%. However, there are signs it is getting harder to find new jobs. Kevin suggests that higher trade tariffs are likely to weaken US growth this year, but not cause a recession.

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STANLIB Asset Management (Pty) Ltd is an authorized Financial Services Provider in terms of the FAIS Act. This should not be construed as advice.

The South African Reserve Bank has cut the repo rate by 25 bps to 7.25%, citing slowing economic growth, says STANLIB Chief Economist Kevin Lings. The bank revised down its estimates of growth and inflation for this year and may announce a new lower inflation target of 2-4%, in line with emerging markets, in October. Another 25 bps rate cut could occur later this year, given current trends.

After two US court rulings that some of President Trump’s tariff hikes may be illegal, uncertainty about global trade conditions persists, with a risk of further disruptions.

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SA’s inflation rate for April, at 2.8%, is fairly subdued, partly because prices of goods being imported from China are in deflation. A cut of 25 bps by the SARB later this week would be justified, given both low inflation and low growth forecasts, and would provide welcome stimulus for the economy in the second half.

The US tax bill proposed by President Trump would deliver fiscal stimulus to the economy, but it will also significantly add to government debt. The US bond market has reacted negatively to approval of the bill by the House of Representatives. The stimulus will occur at the same time as tariffs push prices higher, and could result in entrenched higher inflation.

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In this podcast, Sylvester Kobo, STANLIB’s Deputy Head of Fixed Income, discusses the implications of the third iteration of the 2025 Budget on the bond market. He highlights how the Budget could affect fixed income investments, particularly in light of lower GDP growth and inflation forecasts. Discover why the bond market reacted with slight weakness and what it means for future investment strategies.