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SOUTH AFRICA: Kganyago Optimistic About Economic Trends

SOUTH AFRICA
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  • SARB Governor Lesetja Kganyago told lawmakers that inflation could the next "two or three [inflation] prints" could "have a three handle on them," which would "provide policy space." The official noted that "the headline disinflation is mainly supported by petering global supply shocks." In adddition, Kganyago said that the decline in core inflation suggests that "the disinflation process is firmly underway."
  • Democratic Alliance (DA) Federal Chair said that the African National Congress (ANC) should "watch this space," after South Africa's largest party refused to comply with the DA's demand to reinstate Cilliers Brink as Tshwane Mayor. She vowed a payback in Ekurhuleni and eThekwini, where talks on cooperation were underway.
  • The National Prosecuting Authority (NPA) refused to prosecute President Cyril Ramaphosa over the Phala Phala scandal which put his political career on the line in 2022. The Director of Public Prosecutions (DPP) decided that "there is no reasonable prospect of a successful prosecution based on evidence contained in the docket."
  • The National Treasury will offer ZAR1bn of inflation-linked bonds maturing in 2031, 2038 and 2046 at its weekly auction today. A similar offering attracted ZAR1.54bn of orders last week.
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  • SARB Governor Lesetja Kganyago told lawmakers that inflation could the next "two or three [inflation] prints" could "have a three handle on them," which would "provide policy space." The official noted that "the headline disinflation is mainly supported by petering global supply shocks." In adddition, Kganyago said that the decline in core inflation suggests that "the disinflation process is firmly underway."
  • Democratic Alliance (DA) Federal Chair said that the African National Congress (ANC) should "watch this space," after South Africa's largest party refused to comply with the DA's demand to reinstate Cilliers Brink as Tshwane Mayor. She vowed a payback in Ekurhuleni and eThekwini, where talks on cooperation were underway.
  • The National Prosecuting Authority (NPA) refused to prosecute President Cyril Ramaphosa over the Phala Phala scandal which put his political career on the line in 2022. The Director of Public Prosecutions (DPP) decided that "there is no reasonable prospect of a successful prosecution based on evidence contained in the docket."
  • The National Treasury will offer ZAR1bn of inflation-linked bonds maturing in 2031, 2038 and 2046 at its weekly auction today. A similar offering attracted ZAR1.54bn of orders last week.