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Section 89 Panel Report Shot Down, Inflation Data On Tap

SOUTH AFRICA
  • The National Assembly rejected a motion to activate impeachment proceedings against President Ramaphosa by 214 votes to 148, which clears the way for him to run for re-election as ANC leader at this week's elective conference. News24 reported that a rebel group led by Nkosazana Dlamini-Zuma "ultimately crumbled under pressure."
  • Although Ramaphosa has been saved from a lengthy impeachment investigation, the vote may have some ramifications for local party politics. Justice Minister and ANC NEC member Lamola refused to speculate on what will happen to the ANC rebels, but it had been suggested that the party would seek to discipline them.
  • Headline inflation in South Africa may have eased to +7.5% Y/Y last month from +7.6% prior, but core CPI is expected to have quickened to +5.1% Y/Y from +5.0%, according to a Bloomberg survey. The data will be published at 0800GMT/1000SAST. Retail sales for October will be published later in the day.
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