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September Inflation Figures Eyed, DIRCO Head Speaks With Hamas Leader

SOUTH AFRICA
  • The SARB warned that South Africa's current fiscal policy constrains economic growth and hinders the return to lower inflation. The central bank said in its Monetary Policy Review that "reducing public debt to sustainable levels can deliver a triple dividend, namely lower cost of capital, reduced debt-service costs and lower inflation".
  • President Cyril Ramaphosa and Foreign Minister Naledi Pandor dismissed Hamas's claims that Pretoria supports the organisation, but Pandor confirmed that she held a phone call with its leader Ismail Haniyeh to discuss humanitarian relief for Gaza.
  • The Treasury said that it is making progress in tackling the issues that led to South Africa being graylisted by the Financial Action Task Force (FATF). The FATF will review South Africa's progress at a meeting next week.
  • South Africa's CPI inflation may have accelerated to +5.4% Y/Y in September from +4.8% prior, according to a Bloomberg survey. The data will be released at 09:00BST/10:00SAST.
  • Later in the day, Statistics SA will publish August retail sales at 12:00BST/13:00SAST. Consensus looks for a 1.2% Y/Y contraction.
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