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SOUTH AFRICA: SARB Expected To Cut Rates By 25bp Amid Falling Inflation

SOUTH AFRICA
EM BulletBulletEmerging Market News
  • The South African Reserve Bank (SARB) is widely expected to reduce the repo rate by another 25bp today, with the decision set to be announced by Governor Lesetja Kganyago during a press conference starting at 13:00GMT/15:00SAST. While there is little debate about the outcome of the meeting ending today, market participants added rate-cut wagers further out the curve in reaction to below-forecast and below-target October inflation data released yesterday. Click here to see our preview of today's SARB decision.
  • The uMkhonto weSizwe (MK) Party said that it was looking to unseat the Government of Provincial Unity (GPU) in KwaZulu-Natal and expressed willingness to cooperate with the ANC, NFP or EFF to that effect. The GPU mirrors the Government of National Unity (GNU) at the provincial level. The formation of this multi-party coalition in KwaZulu-Natal denied the MK Party a chance rule in the province, where it was an election front-runner and won 45% of the vote. The African National Congress (ANC) brushed away claims that it could work with the MK Party in KwaZulu-Natal.
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  • The South African Reserve Bank (SARB) is widely expected to reduce the repo rate by another 25bp today, with the decision set to be announced by Governor Lesetja Kganyago during a press conference starting at 13:00GMT/15:00SAST. While there is little debate about the outcome of the meeting ending today, market participants added rate-cut wagers further out the curve in reaction to below-forecast and below-target October inflation data released yesterday. Click here to see our preview of today's SARB decision.
  • The uMkhonto weSizwe (MK) Party said that it was looking to unseat the Government of Provincial Unity (GPU) in KwaZulu-Natal and expressed willingness to cooperate with the ANC, NFP or EFF to that effect. The GPU mirrors the Government of National Unity (GNU) at the provincial level. The formation of this multi-party coalition in KwaZulu-Natal denied the MK Party a chance rule in the province, where it was an election front-runner and won 45% of the vote. The African National Congress (ANC) brushed away claims that it could work with the MK Party in KwaZulu-Natal.