The year is 2020 and South Africa had walked into the year with a historic Rugby world cup victory to be crown world champions. There was so much optimism and positivity in the air that the year was dubbed ‘Twenty-Plenty’!
It didn’t take too long for this year to show us it’s true colours. On the 2nd day of the new year, Australia was rocked by bushfires that drove them to declare a state of emergency. The fires burnt more than 12.6 million hectares, caused the deaths of 33 peoples and over one billion animals. The event also led to the slowing down of the Australian economy.
On the east side of Asia, something massive had been brewing that would change the course of the world and its plans for the year. Chinese officials notify the World Health Organisation (WHO) on the group of cases of a viral pneumonia of unknown cause that has been identified in Wuhan. On the 11th of January, China reported the first death from the novel coronavirus. A 61-year-old man died after contracting the virus at the live animal market in Wuhan.
I do think that we have firmly reached the end of the road for those yielding sharp objects in the expectation of further rate cuts. The Governor himself mentioned that the QPM model as this stage is forecasting interest rate hikes going into the next year and the following.
Down here at the Southern tip of Africa we were still worried about the outcomes of the State Capture commission, a passenger economy and State Owned Entities that never came right regardless of the amount of money we threw in their direction. The SARB throws in their bit and announces a surprise 0.25% repo rate cut to 6.25% due to low inflation and a weak economy.
Four years later, the UK formally leaves the EU following the public vote held on June 2016.
Kobe Bryant, his 13-year-old daughter, six family friends and a pilot died in a helicopter crash.