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MNI BRIEF: BOJ Tankan To Show Slipping Sentiment

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Ramaphosa Holds Secret Meeting With Econ Off'ls, S. Africa Unlikely To Expel US Envoy

SOUTH AFRICA
  • TimesLive reports that "President Cyril Ramaphosa has held a secret meeting with National Treasury at a wine farm in Stellenbosch a week after Treasury proposed massive spending cuts". The leader reportedly summoned Finance Minister Enoch Godongwana, SARB Governor Lesetja Kganyago and Treasry officials to the meeting to discuss the state of the economy, with the government preparing to implement austerity measures as part of its upcoming Medium-Term Budget.
  • Daily Maverick reports that US ambassador Reuben Brigety will likely keep his post as South Africa does not want to spoil its relations with Washington after managing to soothe tensions over the Lady R affair. Meanwhile, Standard Bank CEO said that the bank believes that Pretoria has done enough to repair relations with the US and the risk of South Africa losing its AGOA status has receded.
  • Eskom announced that it would ease loadshedding to Stage 5 from 05:00 today until 16:00 as generation capacity and emergency reserves improved. An updated schedule will be published later today. Deputy President Paul Mashatile last night promised to end rolling blackouts by 2024.
  • South Africa will offer ZAR1bn of inflation-linked bonds at the weekly auction today. The previous debt offering attracted the weakest demand since July.
  • SARB Governor Lesetja Kganyago is expected to speak at a meeting of regional central bankers in Namibia.
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