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Cosatu Strike Begins, BER To Publish Q2 Inflation Expectations Survey

SOUTH AFRICA
  • Labour federation Cosatu and its affiliate unions called a "nationwide socio-economic strike" for today to protest against corruption, crime, and various economic crises haunting the country. The Mail & Guardian reported that local analysts questioned if the strike would attract large turnout, as "thoose with jobs would rather work, given the difficult economic climate."
  • The BRICS's New Development Bank said that it doesn't have immediate plans to create a common currency for the bloc, according to a report in Businesstech. Earlier this week, Finance Minister Enoch Godongwana told lawmakers that there have been no such discussions, despite the broader move by BRICS countries towards making more non-dollar trades.
  • The opposition Democratic Alliance (DA) and Economic Freedom Fighters (EFF) have not been invited to the BRICS Political Parties Forum, which will be held later this moth as part of the preparations for the subsequent BRICS leaders' summit. BusinessDay reports that among those invited are the ruling parties of BRICS countries, as well as parties with which the ANC has relations.
  • The Bureau for Economic Research will publish its Q2 Inflation Expectations Survey at 09:00BST/10:00SAST. Data on South Africa's May electricity production/consumption will cross the wires at 12:00BST/13:00SAST.
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