Free Trial

April CPI Up Today, Gordhan Warns Of "Significant" Power Outages Through 2023

SOUTH AFRICA
  • Statistics SA will publish April CPI data at 09:00BST/10:00SAST and it will be one of the final data signals ahead of tomorrow's SARB monetary policy decision. According to a Bloomberg poll of economists, headline inflation is expected to have slowed to +7.0% Y/Y from +7.1% prior, while core inflation may have accelerated to +5.4% Y/Y from +5.2%. Breakeven rates have slipped this morning but remain in the vicinity of cyclical highs.
  • Public Enterprises Minister Pravin Gordhan said that the process of appointing Andre de Ruyter's successor as Eskom CEO will be completed within a month or so. In contrast with recent comments from ANC Secretary General Fikle Mbalula, Gordhan added that South Africa must settle with "significant" load-shedding at least until the end of this year. He also confirmed that it remains Eskom's target to increase the energy availability factor to 70% by March 2024.
  • Presidential spokesperson Vincent Magwenya said that President Cyril Ramaphosa has signed a proclamation defining the powers of Electricity Minister Kgosientsho Ramokgopa and his decision will be gazetted soon. The official refused to provide any details before the formal publication of the decision.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.