As we hurtle towards increasingly volatile and uncertain times, it’s helpful to understand how the real economy interacts with the financial one as a lot of the things that we are experiencing now like high inflation can be explained by these interactions. South Africa’s MPC will deliver its interest rate decision on 21 July, and is expected to hike by 50bp, despite the US’s FOMC delivering a 75bp hike in June, and most likely another 75bp on 27 July.  In this conversation, we talk about the real economy versus the financial economy.