News 06:00

BULLETIN 1 August 6 am

Good morning. I am……..

In this bulletin:

# The Reserve Bank is considering further repo rate cuts
# Professor Firoz Cachalia will be sworn in as the new acting Police minister today
# And Donald Trump calls for Hamas to surrender and release the remaining hostages

# The South African Reserve Bank says it now prefers inflation to settle at three-percent, down from the current three- to six-percent target range. Reserve Bank governor, Lesetja Kganyago says lower inflation could mean lower interest rates, with models showing rates falling below six-percent over time. The governor stressed that the move aims to anchor expectations, support the rand, and reduce long-term borrowing costs and will guide future meetings:

Meanwhile, the government has welcomed the Reserve Bank’s decision and says it will help ease pressure on struggling households. The rate cut is expected to lower borrowing costs, boost investment, and support businesses. Government spokesperson Nomonde Mnukwa says the decision supports efforts to drive inclusive growth, job creation, and economic reform:

# The DA has welcomed the guilty finding of the Parliamentary Joint Ethics Committee against deputy president Paul Mashatile. The committee has resolved that the National Assembly should reprimand Mashatile and impose a fine of ten-thousand-rand. This is for his failure to declare a diamond gift to his wife in his financial and registrable interests register. The gift was from businessman Louis Liebenberg. The DA says the ethics report raises more questions than answers, including what other gifts Mashatile and his wife received from Liebenberg, as well as the value of the diamond.

# President Cyril Ramaphosa will today swear in minister-designate Firoz Cachalia as acting minister of Police. Cachalia’s appointment follows the special leave of Police minister Senzo Mchunu, amid claims of political interference by KwaZulu-Natal Police commissioner, Nthanhla Mkhwanazi. The Madlanga Commission, chaired by retired Constitutional Court Judge Mbuyiseli Madlanga, will investigate the allegations. Cachalia replaces Mineral and Petroleum Resources minister Gwede Mantashe, who had been acting in the role. The Presidency says the appointment marks a critical leadership shift to boost law enforcement and public safety.

# US president Donald Trump says that the fastest way to end the humanitarian crisis in Gaza is for Hamas to surrender and release the hostages. This comes amid growing international concern over reports of mass starvation and worsening conditions in the territory. Sixty-three malnutrition-related deaths were reported in Gaza in July. Meanwhile, White House special envoy Steve Witkoff met with Israeli prime minister Benjamin Netanyahu yesterday, after the US pulled back from Gaza ceasefire talks, blaming Hamas for negotiating in bad faith.

# Golf: Daniel van Tonder has been confirmed as the first South African participant in this year’s Nedbank Challenge at Sun City in North West early in December. This will only be his second appearance after making his debut in 2014, when he ended in 29th place, but he won the South African Open on the same course at the Gary Player Country Club in 2021. Van Tonder says he is looking forward to compete after his most successful season on the Sunshine Tour.

# And the financial indicators: The dollar trades at 18-rand-20-cents and the euro at 20-rand-78-cents. One British pound costs 24-rand-3-cents and Bitcoin trades at 115-thousand-524-dollar. Gold sells at three-thousand-291-dollars-58-cents a fine ounce and Brent crude oil is quoted at 71-dollars-55-cents a barrel.

Stay tuned for more news………….