Monthly Market Highlights – June 2024

In June, several global central banks made key interest rate decisions. The US, UK, China, Japan, Sweden and Norway opted to keep interest rates steady. Conversely, the European Central Bank implemented its first rate cut in five years, Canada was the first G7 nation to cut rates, and Switzerland led developed economies with its second rate cut.

In SA, real Gross Domestic Product (GDP) contracted marginally by 0.1% in Q1 2024, while the UK economy stalled in April due to wet weather. UK GDP was flat in April compared to the previous month, a slowdown from 0.4% in March.

Inflation in the UK returned to its 2% target for the first time in nearly three years in May, declining from 2.3% in April, while SA’s inflation rate held steady at a four-month low in May at 5.2% y/y, unchanged from April. The core inflation rate in Japan increased for the first time in three months in May due to higher electricity costs.

Please click below to read more in our Monthly Market Highlights. This document is a more thematic and visual economic and market recap in the form of graphs, articles and other news items from different publications and media.

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