South Africa Financial Conditions Index (Monthly Report & Data)
The Financial Conditions Index is a 4-page monthly overview of the financial conditions as measured by five variables: real interest rates; the yield curve; earnings yields on shares; excess money supply growth; and real effective exchange rate change. The Financial Conditions Index (FCI) can signal overall financial conditions to economic agents, and can serve as rough indicator for the conduct of monetary policy – especially in times of high financial market volatility. The FCI gives a comprehensive view on the financial variables likely to impact on both future inflation and economic activity levels.
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The average value of the FCI over the past 3 months was down by 2% compared with the previous 3 months, while three of the five constituent variables have shown some easing.
Although the average value of the FCI over the past 12 months is still up by 2.7% compared with the previous 12 months, three of the five constituent variables have declined month-on-month.
Although the average value of the FCI over the past 12 months is still up by 2.9% compared with the previous 12 months, four of the five constituent variables have declined month-on-month.
