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SARB Governor Vows To Deliver On Low-Inflation Mandate Regardless Of Politics

SOUTH AFRICA
EM BulletHomepagemarkets-real-timeBulletEmerging Market NewsPolitical Market News
  • South African Reserve Bank (SARB) Governor Lesetja Kganyago reiterated that the central bank will "continue to deliver on that mandate, irrespective of how our post-election politics plays out, whetever the outcome in the next two weeks." He also warned that although the new forecast showed that inflation could return to the +4.5% Y/Y target mid-point in 1H2025, "getting there is likely to be a bumpy, difficult path."
  • A key meeting of the ANC's National Executive Committee (NEC) has been postponed until Thursday amid alleged tensions among party leaders. A source told IOL that four NEC members were accused of " working with the MK [Party] all along." The ruling party is divided over whether to seek a coalition deal with the main opposition DA or reach out to the EFF and MK.
  • The SARB will release its biannual Financial Stability Review at 15:00BST/16:00SAST, outlining the risks to financial stability.
  • South Africa's May S&P Global PMI will be published at 08:15BST/09:15SAST. The reading of BER Business Confidence for Q2 will be out at 09:00BST/10:00SAST.
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  • South African Reserve Bank (SARB) Governor Lesetja Kganyago reiterated that the central bank will "continue to deliver on that mandate, irrespective of how our post-election politics plays out, whetever the outcome in the next two weeks." He also warned that although the new forecast showed that inflation could return to the +4.5% Y/Y target mid-point in 1H2025, "getting there is likely to be a bumpy, difficult path."
  • A key meeting of the ANC's National Executive Committee (NEC) has been postponed until Thursday amid alleged tensions among party leaders. A source told IOL that four NEC members were accused of " working with the MK [Party] all along." The ruling party is divided over whether to seek a coalition deal with the main opposition DA or reach out to the EFF and MK.
  • The SARB will release its biannual Financial Stability Review at 15:00BST/16:00SAST, outlining the risks to financial stability.
  • South Africa's May S&P Global PMI will be published at 08:15BST/09:15SAST. The reading of BER Business Confidence for Q2 will be out at 09:00BST/10:00SAST.