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Budget & Trade Balance On Tap, Presidency Holds Briefing On Cabinet Meeting

SOUTH AFRICA
  • The African National Congress (ANC) defended Ward 4 in a by-election in the Govan Mbeki municipality but bled some support to ex-President Jacob Zuma's newly created MK party, which came second. The next round of by-elections will take place on March 13.
  • S&P warned of moral hazards associated with the Treasury's decision to tap the profits on South Africa's gold and foreign exchange reserves, arguing that it could fuel inflation and threaten the SARB's independence.
  • South Africa's M3 money supply grew 6.58% Y/Y in January, missing the +7.30% consensus forecast. Private sector credit rose 3.16% Y/Y versus +4.37% expected.
  • January PPI data will cross the wires at 09:30GMT/11:30SAST. Trade balance and budget data are due 12:00GMT/14:00SAST.
  • Minister in the Presidency Khumbudzo Ntshavheni will brief the media on the latest Cabinet meeting at 10:00GMT/12:00SAST.

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