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SARB Keeps Rates On Hold, Eskom To Implement Stage 1 & 2 Loadshedding Today

SOUTH AFRICA
  • The SARB kept interest rates unchanged yesterday but signalled that plethora of upside risks to the inflation outlook remain a serious concern, with policymakers ready to act should these risks materialise. Governor Lesetja Kganyago called for more fiscal restraint and noted that fiscal deterioration boosts the country's risk premium and eventually results in higher interest rates.
  • Eskom said that "due to the anticipated planned maintenance to address minor generation effects, Stage 1 loadshedding will be implemented from 05:00 until 16:00 on Friday, followed by Stage 2 loadshedding from 16:00 until 05:00 on Saturday."
  • Electricity Minister Kgosientsho Ramokgopa warned of another challenge to generation capacity on the horizon, noting that the government cannot afford the necessary expansion of the grid, while access to finance will be the main challenge.
  • South Africa will observe a long weekend, celebrating the Heritage Day on Monday.
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