During Q3’23 the ongoing economic recovery faced persistent challenges exacerbated by spill-over effects from 2022 which led to slower global growth and increasing domestic interest rates. Globally, inflation in advanced economies continued to ease during the year driven by a decline in commodity prices and easing supply chain costs. The continued strengthening of the dollar and reduced dollar inflows have contributed to further weakening of the shilling against the dollar creating a challenging business environment. We anticipate local economic growth will remain hampered by elevated interest rates, inflationary pressures and continued depreciation of the shilling.
In this Note, we take a dive into events that shaped the macro activities and the Equities market.
