A decision from credit ratings agency Fitch may steal the spotlight in a week in which retail sales data, mining figures and business confidence look likely to take centre stage. Fitch met top roleplayers in the public and private sectors in the past few weeks and economists expect a ratings decision this week. Fitch took a favourable view of the 2018 budget, saying that it reversed some of the fiscal deterioration seen in 2017. It said it remained to be seen how fiscal policy would evolve under President Cyril Ramaphosa in the face of "persistent risks" to fiscal targets. Fitch, which does not follow set publication dates, affirmed SA at BB+ with a stable outlook in November. "We expect no ratings change apart from an acknowledgement that the outlook, post the ANC elective conference, has improved," said First National Bank chief economist Mamello Matikinca. Business confidence Business confidence should remain higher than the average over the past few years. although this may wan...
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