Free Trial

SARB Announces Rate Decision, StatsSA Reports December PPI

SOUTH AFRICA
  • Governor Lesetja Kganyago will announce the latest rate decision of the South African Reserve Bank (SARB) during a press conference starting at 13:00GMT/15:00SAST. The Committee is widely expected to keep interest rates unchanged, while the next move will likely be a cut. See our preview for more details.
  • South Africa's December PPI will be published at 09:30GMT/11:30 SAST. Factory-gate inflation is expected to have eased to +4.3% Y/Y from +4.6% prior. Data from Statistics SA yesterday showed that CPI inflation slowed to +5.1% Y/Y in December from +5.5% prior, printing a touch below the consensus forecast of +5.2%.
  • Ninety One, South Africa's largest asset manager, said that the communication around the departure of SARB Deputy Governor Kuben Naidoo caused jitters, but the central bank's "decision making will be unchanged" and they "do not think monetary policy is going to skip a beat".
  • The International Court of Justice (ICJ) will rule on South Africa's genocide case against Israel on Friday at noon GMT. Pretoria is seeking an emergency order for Israel to halt its military actions in Gaza.
  • Eskom announced that loadshedding will be suspended daily between 10:00 and 16:00. The utility will continue to alternate between Stage 1 and Stage 2 power cuts outside of these hours.

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.