Reserve Bank’s lighter touch signals interest rates are near peak
(Business Day) – The Reserve Bank’s decision to raise the repo rate by a further 25 basis points indicates that South Africa’s interest rates are nearing their peak and the central bank is feeling more confident that consumer inflation will soon move down into the bank’s target range of between 3 and 6 per cent. READ MORE. (for subscribers)
Big jump in petrol prices coming next week
(BusinessTech) – The latest Central Energy Fund data shows that motorists are in for an increase in both petrol and diesel prices with unleaded 93 increasing by 58 cents a litre, unleaded 95 increasing by 52 cents a litre while diesel 0.05% will increase by 33 cents and diesel 0.005% will increase by 22 cents a litre. READ MORE.
Day of high drama in Joburg council as Mpho Phalatse voted out as mayor
(News24) – At the first ordinary session of the year for the City of Johannesburg council saw mayor Mpho Phalatse booted as mayor after facing three separate motions of no confidence. The council is due to hold a vote for a new mayor on Friday. READ MORE.
What’s happening in the markets?
(Business Day) – The JSE reached a record high on Thursday on the back of a more dovish Reserve Bank interest rate hike and news from the US that fourth-quarter data showed their economy to be in good shape. The All-Share Index was as high as 80,904 points before closing at 80,509 points. At 05:52, the rand was trading at R17.2299 against the dollar. READ MORE. (for subscribers)
