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SARB Announces Rate Decision, Eskom Escalates Load-Shedding

SOUTH AFRICA
  • SARB Governor Lesetja Kganyago will announce the rate decision during a press conference at 15:00SAST/13:00GMT. The central bank is expected to moderate the pace of its rate-hike cycle, with consensus split 15-6 in favour of a 50bp over 25bp hike. Click here to see our full preview.
  • South Africa's PPI data will cross the wires earlier in the day, at 07:30SAST/09:30GMT. It is expected that factory-gate inflation eased to +13.9% Y/Y in December from +15.0% prior, according to a Bloomberg poll of economists.
  • Eskom ramped up load-shedding and will alternate between Stages 4 and 5 from this morning until Sunday afternoon due to the breakdown of generating units at Camden, Kendal, Lethabo and Majuba power stations. Extended power rationing has been stoking a growing discontent among South Africans amid inconsistent messaging from government agencies on when blackouts might end.

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