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ANC On Campaign Trail, March PPI On Radar

SOUTH AFRICA
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  • The African National Congress (ANC) deployed its heavyweight officials to the campaign trail as the odds it will hold onto its parliamentary majority are dwindling. Former President Thabo Mbeki will campaign in Soweto, Gauteng, despite his earlier criticism of the party's current leadership.
  • Local watchers pointed to the lowering of the expected impact of loadshedding on GDP growth in the central bank's latest Monetary Policy Review (MPR). Power cuts are now expected to shave 0.6pp off the growth rate this year and reduce expansion by 0.2pp in 2025 versus 0.8pp and 0.4pp respectively in the previous forecast.
  • At 13:00BST/14:00SAST the South African Reserve Bank (SARB) will launch Corporation for Deposit Insurance to protect bank depositors.
  • South Africa's PPI data for March will cross the wires at 10:30BST/11:30SAST. Factory-gate inflation may have stayed at +4.5% Y/Y, per a Bloomberg survey of analysts.
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  • The African National Congress (ANC) deployed its heavyweight officials to the campaign trail as the odds it will hold onto its parliamentary majority are dwindling. Former President Thabo Mbeki will campaign in Soweto, Gauteng, despite his earlier criticism of the party's current leadership.
  • Local watchers pointed to the lowering of the expected impact of loadshedding on GDP growth in the central bank's latest Monetary Policy Review (MPR). Power cuts are now expected to shave 0.6pp off the growth rate this year and reduce expansion by 0.2pp in 2025 versus 0.8pp and 0.4pp respectively in the previous forecast.
  • At 13:00BST/14:00SAST the South African Reserve Bank (SARB) will launch Corporation for Deposit Insurance to protect bank depositors.
  • South Africa's PPI data for March will cross the wires at 10:30BST/11:30SAST. Factory-gate inflation may have stayed at +4.5% Y/Y, per a Bloomberg survey of analysts.