News 09:00
BULLETIN 20 October 9 am
Good morning. I am……..
In this bulletin:
# Moody’s will closely scrutinise South Africa’s fiscal anchor
# KPMG expects the Medium-Term Budget Policy Statement to reflect global uncertainty
# And, the Australian prime minister calls for the lowering of the rising temperature of political rhetoric
# Credit rating agency Moody’s says it will scrutinise the South African government’s design of its fiscal anchor, including potential carve-outs embedded within the framework. Finance Minister Enoch Godongwana is expected to unveil details of a formal fiscal anchor aimed at keeping government borrowing and debt in check when he tables the Medium-Term Budget Policy Statement tomorrow. Moody’s vice president Evan Wohlmann says they will also analyse how quickly the government is required to rectify any deviations from the anchor. The agency has revised South Africa’s credit outlook to positive.
Meanwhile KPMG South Africa says a significant portion of the economic activity projected for this year could be revised downwards as global instability continues to weigh on growth. KPMG’s Itumeleng Nkadimeng says they expect government to maintain a primary surplus, which represents the difference between revenue and expenditure before interest payments on debt are taken into account:
# The DA in Johannesburg says it will write to the Special Investigating Unit to request that it consider seeking a proclamation to probe City Power. This follows persistent electricity outages that are affecting Bramley, Bramley Park, Raumarais Park and surrounding areas. The DA’s Belinda Kayser-Echeozonjoku says the investigation must look into possible negligence, substandard workmanship, and collusion between contractors and officials. She adds that the metro must stop treating these outages as isolated incidents and address their underlying causes:
# Australian prime minister Anthony Albanese has called for politicians to lower the rising temperature of political rhetoric. This comes as independent member of Parliament Helen Haines was struck by a car and severely injured outside her office in Wangaratta yesterday. A 43-year-old man has been arrested. In 2025/2026, one-thousand-and-67 reports of harassment and threatening behaviour against politicians were recorded in Australia, up from 951 the year before. Albanese warns that increasingly hostile, personal, and violent rhetoric threatens democratic institutions and discourages leadership:
# Tennis: Grand Slam champions Juan Martin del Potro, Ashleigh Barty and Svetlana Kuznetsova are among the International Tennis Hall of Fame’s Class of 2027 nominees. Del Potro amassed 22 tour-level titles throughout his standout career, including his 2009 US Open triumph. Barty, a former world number one, won four Grand Slam titles, three in singles and one in doubles. Kuznetsova is on the ballot for the second time. The Russian won 18 WTA Tour singles titles and 16 doubles titles during her 15-year career, including two Grand Slam singles titles.
# And the financial indicators: The dollar trades at 16-rand-40-cents and the euro at 18-rand-42-cents. One British pound costs 21-rand-86-cents, and Bitcoin trades at 81-thousand-982-dollars. Gold sells at four-thousand-143-dollars-26-cents a fine ounce, and Brent crude oil is quoted at 111-dollars-33-cents a barrel.
Stay tuned for more news………….