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SARB To Announce Last Pre-Election Rate Decision

SOUTH AFRICA
  • South African Reserve Bank (SARB) Governor Lesetja Kganyago will announce the latest monetary policy decision during his press conference at 13:00GMT/15:00SAST. The Monetary Policy Committee (MPC) is widely expected to keep interest rates on hold as inflation remains above the preferred levels, while the proximity of national and provincial elections put the decision in a political context. Click here to see our preview of the meeting including a summary of sell-side views.
  • African National Congress (ANC) Chairman Gwede Mantashe said that the motion of no confidence brought by the main opposition Democratic Alliance (DA) against Speaker Nosiviwe Mapisa-Nqakula was "opportunistic" and he "will not support it," despite corruption allegations hanging over the official. ANC Chief Whip Pemmy Majodina said that the Speaker has the full support of the caucus, but party spokesperson Mahlengi Bhengu-Motsiri suggested that discussions are ongoing on how to approach the motion.
  • The Electoral Court rejected a petition by the ANC to de-register ex-President Jacob Zuma's MK Party but the two formations will cross sabres again in another court as soon as today. The court will rule on whether the MK Party has the right to use its name and logo, previously used by the ANC's now-defunct military wing.
  • Eskom suspended loadshedding yesterday afternoon due to the return to service of six generating units and will provide a further update on the outlook later today.
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