US inflation data subsided and unemployment data was also positive, prompting the US Federal Reserve (Fed) to begin its interest rate cutting cycle. China’s central bank unveiled measures to improve the country’s economic growth by lowering borrowing costs and allowing banks to increase their lending capabilities. South Africa’s inflation rate dropped below the midpoint target in August, encouraging the South African Reserve Bank (SARB) to cut interest rates for the first time since pre-Covid.

Data shows that inflation in the US dropped below 3% in July, getting closer to their 2% target. The unemployment rate in the US rose according to July data. The UK economy grew in the first and second half of 2024 after declining in the third and fourth quarter of 2023. Locally, SA’s real interest rate reached the highest level in 18 years, with considerations for the South African Reserve Bank (SARB) to lower rates for the month.