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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa M3 Money Supply YoY fell to 9.31% in June 2026
FMPMonthlyReleased July 2026
South Africa M3 Money Supply YoY fell to 9.31% in June 2026, released July 2026, down 0.28% from May's 9.59% reading. The reading matched the 9.4% consensus. M3 Money Supply YoY has now declined for 3 consecutive months. Over the past 3 months, M3 Money Supply YoY averaged 9.74%, vs 8.24% in the prior 3-month window. The reading is in the 86th percentile of the trailing 24-month range.
Latest Release
9.31
Actual
9.4
Consensus
9.59
Previous
Median Absolute Error
±0.68 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 9.4
Actual: 9.31
Error: +0.09
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| BTC/USD | ▲ Direct | +0.61 | CRYPTO | Moves with | → View |
| S&P 500 | ▲ Direct | +0.56 | INDEX | Moves with | → View |
| EUR/USD | ▼ Inverse | −0.46 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
M3 Money Supply YoY (South Africa) was reported at 9.31% in July 2026. This missed the market consensus of 9.4% by 0.09%. The reading fell from the previous value of 9.59%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 7.95%, ranging from 6.07% to 9.82% across 11 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 9.57%, up from the prior three at 8%. Volatility over the past year (σ 1.24%) is higher than the prior year (σ 0.7%). In July readings over the past 3 years, M3 Money Supply YoY has averaged 7.98%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Bullish BTC). A secondary relationship exists with S&P 500, positively correlated (Bullish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 0.68%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Unemployment Rate (Aug 11).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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M3 Money Supply YoY - ZA
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About M3 Money Supply YoY — South Africa
DEFINITION
M3 Money Supply YoY is a financial indicator that measures the annual change in the total amount of money in circulation within an economy. It includes all forms of money, such as cash, deposits, and other liquid assets. This indicator is used by economists and policymakers to assess the overall health and stability of a country's monetary system and to make informed decisions regarding monetary policy. A positive YoY change in M3 Money Supply indicates an increase in liquidity and potential for economic growth, while a negative change may signal potential inflationary pressures.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 9.31 %, consensus 9.4 %. Prior reading (May 2026): 9.59 %. Before that (Apr 2026): 9.82 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with BTC/USD (Bullish BTC, r=0.61) — a useful reference for crypto-focused traders.
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Economic Calendar - ZA Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:30 | ZA | Producer Price Index MoM | -0.1 | 2.6 | 1.8 | 0.85 | Low |
| 09:30 | ZA | Producer Price Index YoY | 7.5 | 7.8 | 8.2 | 7.85 | Low |
| 12:00 | ZA | Budget Balance | 80.13 | -14.62 | 57 | 68.56 | Low |