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SOUTH AFRICA: SARB Week Gets Underway

SOUTH AFRICA
EM BulletBulletGlobalEmerging Market NewsRegion
  • President Cyril Ramaphosa said that the government of national unity (GNU) will "ride out the storm" after experiencing tensions over the controversial Basic Education Law Amendment (BELA) Bill. The leader told the Sunday Times that he had the support of the grassrots structures of his African National Congress (ANC) on working with the Democratic Alliance (DA). However, the newspaper flags speculation that Ramaphosa's internal opponents could try and use the National General Council (NGC) next year to "challenge the choice of the DA over the EFF and the MKP."
  • Deputy Paul Mashatile's office said that he is in good health after collapsing from the podium while delivering a speech on Saturday. The official's spokesperson said that Mashatile "felt lightheaded from the heat."
  • The South African Reserve Bank (SARB) is expected to deliver its first rate cut of the cycle this Thursday. Almost all economists surveyed by Bloomberg expect a 25bp cut, with one dissenter calling for a 50bp reduction.
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  • President Cyril Ramaphosa said that the government of national unity (GNU) will "ride out the storm" after experiencing tensions over the controversial Basic Education Law Amendment (BELA) Bill. The leader told the Sunday Times that he had the support of the grassrots structures of his African National Congress (ANC) on working with the Democratic Alliance (DA). However, the newspaper flags speculation that Ramaphosa's internal opponents could try and use the National General Council (NGC) next year to "challenge the choice of the DA over the EFF and the MKP."
  • Deputy Paul Mashatile's office said that he is in good health after collapsing from the podium while delivering a speech on Saturday. The official's spokesperson said that Mashatile "felt lightheaded from the heat."
  • The South African Reserve Bank (SARB) is expected to deliver its first rate cut of the cycle this Thursday. Almost all economists surveyed by Bloomberg expect a 25bp cut, with one dissenter calling for a 50bp reduction.