News 17:00
BULLETIN 27 March 5 pm
Good afternoon. I am……..
In this bulletin:
# The Monetary Policy Committee unanimously decides to keep the repo rate unchanged at 8.25-percent
# The ANC remains resolute in upholding the liberation struggle heritage
# And Olympics: South Africa will have a wrestler at a Games for the first time in 16 years
# The South African Reserve Bank’s Monetary Policy Committee has unanimously decided to maintain the repo rate at 8.25-percent, while the prime lending rate will remain at 11.75-percent. Governor Lesetja Kganyago noted persistent global inflation pressures, with headline inflation near the top of the target range at 5.6-percent in February. He says economic growth projections remain modest due to supply-side constraints like electricity shortages:
# The ANC says it remains resolute in pursuing justice and protecting its historical legacy, particularly regarding the name uMkhonto we Sizwe. The ANC filed a copyright infringement application against the MK Party at the High Court in Durban, after the ruling party lost a court application to have the MK Party deregistered by the IEC. ANC secretary general Fikile Mbalula argues the name uMkhonto we Sizwe is closely associated with the ANC, and its unauthorised use could deceive or cause confusion:
# Putco has confirmed one of its buses caught fire on Moloto Road in Gauteng this morning, prompting passengers to escape through windows. Spokesperson Lindokuhle Xulu says they have provided prompt passenger assistance, particularly in addressing their injuries. The cause of the fire is still investigated and Putco is actively collaborating with relevant authorities to gather all necessary information. Xulu says safety is the company’s top priority, and they are committed to ensuring that every aspect of the incident is thoroughly reviewed and addressed.
# Cape Town Safety and Security mayoral committee member JP Smith has urged long-distance transport operators to participate in Operation Exodus for vehicle checks ahead of Easter. Smith says inspections at Joe Gqabi, Bellville and CBD public transport interchanges aim to enhance road safety. A total of 327 buses, midi-buses, minibuses, and trailers have already undergone checks. Smith emphasises the city’s commitment to reducing road fatalities during the holiday period:
# Olympics: South Africa will have a wrestler at a Games for the first time in 16 years. Steyn de Lange qualified for this year’s Games in Paris when he defeated Tunisian Mohamed Saadaoui in the 97-kilogram division at the qualifiers in Egypt. He won the bronze medal at the Junior World Championships in 2021, and silver at the Commonwealth Games the next year. The last time a South African wrestler participated in the Games was Heinrich Barnes in the freestyle lightweight division in Beijing in 2008.
# And the financial indicators: The dollar trades at 18-rand-91-cents and the euro at 20-rand-46-cents. One British pound costs 23-rand-86-cents and Bitcoin trades at 70-thousand-844-dollars-12-cents. Gold sells at two-thousand-191-dollars-7-cents a fine ounce and Brent crude oil is quoted at 85-dollars-32-cents a barrel.
Stay tuned for more news………….