The third quarter of 2023 brought several surprises, not least being the welcome decline in inflation to 4.7%, well within the SARB target band of 3% to 6%. While this bodes well for consumers looking for respite from further interest rate hikes, Absa senior economist Miyelani Maluleke doesn't foresee any rate cuts before the first quarter of next year. Asset TV got Miyelani's take on macroeconomic developments in the third quarter and a forecast of what lies ahead. Perspectives 2023