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CPI & Retail Sales On Docket, Former Eskom CEO Will Testify To Parliament

SOUTH AFRICA
  • South Africa's headline CPI is expected to have slowed to +6.9% Y/Y in March from +7.0% in February, according to a Bloomberg poll of analysts. Core CPI may have stayed unchanged at +5.2% Y/Y, which means that both metrics are seen remaining above the mid-point of the SARB's +3.0%-6.0% target range. Given the central bank's explicitly stated focus on containing price pressures, the data will receive close scrutiny when it hits the wires at 09:00BST/10:00SAST. Retail sales data for February will be published later in the day, at 12:00BST/13:00SAST.
  • Former Eskom CEO Andre de Ruyter will appear before parliament's Standing Committee on Public Accounts (SCOPA) next Wednesday to testify on his allegations surrounding corruption at the electricity utility. He is due to attend the committee meeting virtually.
  • Separately, National Treasury told lawmakers that Eskom must use tariff income to fix its ailing power stations and will not receive any financial aid from the government for that purpose. This contrasts with recent comments from Electricity Minister Kgosientsho Ramokgopa, who suggested that the government should inject additional funds into the utility to help it fix the power plants.
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