MNI SNB WATCH: Rate Cut On Knife-Edge As Disinflation Stalls

MNI China Daily Summary: Tuesday, June 18

MNI: PBOC Net Injects CNY84 Bln Via OMO Tues; Rates Unchanged

CHINA PBOC CONDUCTS CNY86 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI: PBOC Sets Yuan Parity Lower At 7.1148 Tues; -1.35% Y/Y

EZ/UK Bond Supply Calendar: Cyprus Synd; Greece, Germany Wednesday

EZ/UK T-Bill Calendar: Portugal, EU Auction on Wednesday

MNI: US APR BUSINESS INVENTORIES +0.3%; SALES +0.3%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Eskom Reduces Loadshedding, S&P Upgrades Its Credit Rating

SOUTH AFRICA
  • South Africa's energy utility reduced loadshedding to Stage 4 on Sunday and further to Stage 3 this morning. Eskom will move between Stages 3 and 4 until further notice. Meanwhile, Electricity Minister Kgosientsho Ramokgopa explained that the implementation of Stage 6 power cuts was necessitated by low levels of emergency reserves, while the return of Kusile power plant generation units should help ease loadshedding during the festive season in December.
  • S&P announced a two-notch upgrade to Eskom's credit rating, citing the "extraordinary support from the South African government" which "should reduce Eskom's refinancing and liquidity risk, subject to the group's compliance to the conditions set forth by the Eskom Debt Relief Act". The company's rating was improved to B from CCC+ in a decision unveiled after hours on Friday, with the outlook changed to stable.
  • The National Treasury said that draft legislation to prevent state capture will be published in January. One of the key areas for improvement is depoliticising the appointment of senior officials, such as SARS commissioners.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.