News 07:00

BULLETIN 20 September 7 am

Good morning. I am……..

In this bulletin:

# The DA credits the government of national unity for improving economic recovery
# BOSA says the interest rate cut is long overdue
# And Israel vows to continue its military action against Hezbollah in Lebanon

# The DA has welcomed the decision by the South African Reserve Bank to reduce interest rates, saying this should be seen as an opportunity to kick-start the economy. The central bank’s Monetary Policy Committee has cut the repo rate by 25 basis points, making it the first cut in four years. This means the rate drops to eight-percent, while banks will lower the prime lending rate to 11.5-percent. The DA says while there are significant global factors at play, South Africans must recognise the positive impact of the government of national unity’s policy agenda, of which the party is a key driver.

Meanwhile, Build One South Africa says the interest rate cut is long overdue. Bosa’s Roger Solomons says leaving interest rates unchanged again would have kept tight the financial noose around the necks of South African households. He adds that more interventions are needed:

# Some South African metros are reportedly facing significant budget cuts over the next three to five years. The cuts result from Census 2022 which revealed 1.6-million fewer households than Statistics South Africa had initially estimated. Nelson Mandela Bay in the Eastern Cape for example is expecting to see a 30-percent reduction. Gauteng and North West are also facing reductions in their budget shares, which are tied to population numbers from the same census. Cape Town and Buffalo City are the only municipalities that won’t be affected.

# The ACDP will this morning stage a picket to defend South Africa’s sovereignty from global political interference. The protest will take place from 9 am, outside the Union Building in Pretoria. The party is calling for public support to protect national autonomy against external political pressures. 

# The Israel Defence Forces says it is working to degrade Hezbollah’s terrorist capabilities and infrastructure in Lebanon. Over 30 people were killed when pagers and walkie-talkies belonging to members of the militant group exploded across Lebanon earlier this week. Yesterday, Israel launched air strikes on southern Lebanon. The IDF says for decades, Hezbollah has weaponised civilian homes, dug tunnels beneath them, and used civilians as human shields, turning southern Lebanon into a war zone. It adds that its military action against Hezbollah will continue.

# Cricket: Proteas all-rounder Wiaan Mulder says their historic loss to Afghanistan in the first one-day international in Sharjah was painful and they need to do better. He top scored for South Africa with 52 in their six-wicket loss to Afghanistan on Wednesday after they were bowled out for 106. The second ODI will be played today. Mulder says they need to find better plans to combat Afghanistan’s young off-spinner, Allah Mohammed Ghafanzar, who took three wickets:

# And the financial indicators: The dollar trades at 17-rand-51-cents and the euro at 19-rand-54-cents. One British pound costs 23-rand-25-cents and Bitcoin trades at 62-thousand-991-dollars-81-cents. Gold sells at two-thousand-589-dollars-84-cents a fine ounce and Brent crude oil is quoted at 74-dollars-47-cents a barrel.

Stay tuned for more news………….