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SOUTH AFRICA: Koeberg Nuclear Plant Goes Offline, National Tsy Sells Bonds

SOUTH AFRICA
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  • The SARB's monetary policy meeting draws nearer, with the bank expected to cut the repo rate by 25bp to 8%, kicking off an easing cycle. The decision will be announced the day after the release of South African inflation data (consensus looks for a downtick to +4.5% Y/Y) and the Fed's rate decision.
  • Both units of the Koeberg Nuclear Power Station are offline as Unit 1 failed a routine test last week and Unit 2 remained under maintenance. Eskom only revealed this after being approached by the Daily Maverick, noting that Uniit 1 was "conservatively and safely" shut down on September 11 and was still offline on Monday.
  • The National Treasury holds a regular bond auction. It will sell ZAR1.25bn of 10% 2033 bonds, ZAR1.25bn of 10.875% 2038 bonds and ZAR1.25bn of 8.75% 2044 bonds.
  • The Bureau for Economic Research will release its Consumer Confidence Survey at 09:00BST/10:00SAST.
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  • The SARB's monetary policy meeting draws nearer, with the bank expected to cut the repo rate by 25bp to 8%, kicking off an easing cycle. The decision will be announced the day after the release of South African inflation data (consensus looks for a downtick to +4.5% Y/Y) and the Fed's rate decision.
  • Both units of the Koeberg Nuclear Power Station are offline as Unit 1 failed a routine test last week and Unit 2 remained under maintenance. Eskom only revealed this after being approached by the Daily Maverick, noting that Uniit 1 was "conservatively and safely" shut down on September 11 and was still offline on Monday.
  • The National Treasury holds a regular bond auction. It will sell ZAR1.25bn of 10% 2033 bonds, ZAR1.25bn of 10.875% 2038 bonds and ZAR1.25bn of 8.75% 2044 bonds.
  • The Bureau for Economic Research will release its Consumer Confidence Survey at 09:00BST/10:00SAST.