Goldman Sachs revised its inflation forecast for South Africa in 2024 to 4.5% from 4.8%, following lower-than-expected July CPI figures. The firm anticipates three consecutive 25 bps rate cuts in upcoming MPC meetings, aiming for a 6.5% terminal rate. Meanwhile, Nedbank projects that South Africa’s prime interest rate could decrease to 10.5% by the end of 2025 from 11.75%, with inflation expected to drop below 4.5% by September.