He adds that he does view the threat to the rand as "a real risk".
"Despite being sheltered from the subprime crisis, growth in SA is suffering from an inflation-induced tightening of monetary policy," says Mercier.
Reuters reports that the rand weakened one percent against the dollar on Monday, tracking weaker global markets as investors fled risky assets.
Monday, January 7, 2008
Rand poses 'real risk'
Electronics makers keep eye on U.S. economy
Gathered in Las Vegas this week for the Consumer Electronics Show, gadget, cell phone and television makers are placing their bets on whether U.S. economic troubles from rising unemployment to mortgage market problems will stop consumer spending.
"We need to watch just how cold sentiment is getting," Toshihiko Fujimoto, chief executive of Sharp Corp's (6753.T: Quote, Profile, Research) Sharp Electronics, said on Sunday. "We can't say business is especially good."
Sallie Mae Names Terracciano Chairman; Lord Still CEO
Lord will be vice chairman of the board and remains chief executive officer, Reston, Virginia-based SLM, known as Sallie Mae, said today in a Business Wire statement. John F. Remondi was named vice chairman and chief financial officer.
Lord, 62, served as Sallie Mae's CEO from 1997 to 2005 and resumed the post on Dec. 14, after the collapse of a proposed $25.3 billion takeover by investors including J.C. Flowers & Co.
U.S. Stocks Rise for First Time in 2008; JPMorgan, Celgene Gain
Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co., the biggest U.S. banks, climbed. Celgene Corp., a maker of cancer treatments, rose after saying profit will jump 45 percent in 2008. Microsoft Corp. gained after Chairman Bill Gates said the world's biggest software maker shipped 100 million copies of its Windows Vista operating system.