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SOUTH AFRICA: Ramaphosa Responds To Debate After Policy Speech

SOUTH AFRICA
  • President Cyril Ramaphosa will today respond to the debate on his policy speech delivered at the formal opening of parliament last week. In his address, the leader pledged to boost infrastructural investments and reduce poverty, but during the ensuing debate opposition MPs accused him of failing to deliver his earlier promises.
  • The President signed South Africa's pension reform into law, which paves the way into the implementation of the two-pot system. The new system will consist of the savings pot and retirement pot; the former will hold one-third of retirement savings that will be accessible before retirement age.
  • Statistics SA will release June CPI data on Wednesday, with headline inflation expected to have edged lower to +5.1% Y/Y from +5.2% prior. This comes after the SARB left interest rates unchanged last week and charted an improved inflation outlook, albeit with the balance of risks skewed to the upside.

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