Sarb likely to, once again, hike interest rate – says economist
(EWN) – The South African Reserve Bank is likely to hike the repo rate at its upcoming bi-monthly monetary policy committee meeting, says economist Dawie Roodt. Roodt says the Sarb is likely to hike the repo rate by 25 basis points following the release of the latest consumer price index and inflation figures. READ MORE.
Kganyago on digital currency: Reserve Bank will be a ‘fast follower’
(News24) – Reserve Bank governor Lesetja Kganyago told the World Economic Forum that South Africa won’t be the first to issue a retail central bank digital currency despite running a successful experiment. Digital currencies are a new type of money that exists only in electronic form. READ MORE.
Hand-to-Mouth: South Africa’s power lifeline frays as Eskom scrambles for diesel
(Daily Maverick) – Eskom is struggling to procure the diesel it needs to continue to run its open-cycle gas turbines, which were originally intended to only be used for emergencies but have become vital in the face of continuous breakdowns at its ageing power plants. READ MORE.
Jacinda Ardern resigns as prime minister of New Zealand
(The Guardian) – New Zealand’s prime minister Jacinda Ardern announced she would resign her premiership by no later than February 7 having confirmed elections will take place in October. Ardern said she “no longer had enough in the tank” to do the job but would remain as an MP until the October elections. READ MORE.
What’s happening in the markets?
(Business Day) – The JSE closed firmer Wednesday with the All-Share Index gaining 0.61% to 79,865 points with investors cheering the news that SA’s consumer inflation eased to its lowest level since May 2022 in December. In the currency markets, the rand is trading weaker against the dollar at R17.1977 while the local unit is also weaker against the euro at R18.5038 and the British pound at R21.2118. READ MORE. (for subscribers)
