MNI BRIEF: Fed's Barr Aims For Broad Consensus On Capital Plan

FED'S BARR: WE THINK FAIRLY SOON WE CAN ADJUST PACE OF QT

FED BARR: EXPECT BROAD, MATERIAL CHANGES TO BASEL III PROPOSAL

MNI EM China Daily Summary: Friday, March 22

MNI China Press Digest Mar 22: Autos, Local Gov, Real-Estate

MNI: PBOC Drains Net CNY11 Bln Via OMO Fri; Rates Unchanged

Bond Supply Calendar: Long BoE APF Sales on Monday

MNI: BAKER HUGHES US RIG COUNT 624; OIL RIGS 509; GAS RIGS 112

EZ/UK T-Bill Calendar: Germany, France Auction Monday

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Unions' Lofty Wage Targets Underline Key Fiscal Battle Ahead; State Bank Talks Gain Traction

SOUTH AFRICA
  • LOCAL NEWS
  • Union insiders say demands for CPI + 4% in the 2021 wage demands are a ploy for unions to appear relevant and active, having lost the R37bn 2018 wage agreement battle in court.
    • Union's wage demands show the difficulty of Govt's task to trim the wage bill will be, but current demands are nothing short of ridiculous and indicative of pressure from a govt starting to make some of the harder decisions that have been needed after years of being to unaffordable above-CPI wage deals.
  • Ramaphosa & Mboweni continue to push the idea of a state bank in order to provide greater financing options with local banks being "too risk averse."
    • Ramaphosa says the bank will be run with best principles and a positive disruptor to the local system, but with a poor SOE track record, this seems questionable.
    • Govt has yet to indicate if it will set up a new entity or use the Land or Post Bank.
  • Local political analyst says Public Protector Mkhwebane's removal/impeachment could take years after an independent panel advised it yesterday.
    • National Assembly speaker must schedule this onto the order paper (could be by Thurs) then the lower house must vote to give the special committee the go ahead to deliberate
  • Ramaphosa drops search for replacement for FinMin Mboweni to cover the risk of him leaving his post due to a lack of alternatives. Dept FinMin Mcebisi Jonal & SARB Gov Kganyago were floated, but neither showed interest in the job
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Markets News
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Markets News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.