News 06:00

BULLETIN 23 April 6 am

Good morning. I am……..

In this bulletin:

# Raymond Parsons warns that oil shocks and utility hikes will push inflation higher
# A new poll finds many Americans question Trump’s temperament
# And rugby: A huge battle is expected between the top two URC teams in Cape Town on Saturday

# North West University Business School economist Raymond Parsons says the full impact of recent fuel price increases, higher electricity tariffs, and taxes will only be felt in the coming months. Parsons warns that inflation could temporarily rise above four-percent before gradually easing back into the three-percent target range. He added that ongoing global energy pressures and domestic cost increases are likely to keep inflation elevated in the short term, with uncertainty still shaping the economic outlook:

Meanwhile, Standard Bank also says South Africa could face higher inflation in the coming months due to a fuel price shock linked to global tensions. The bank’s Elna Moolman warns recent increases in fuel prices have not yet been fully reflected in the March inflation data, meaning the impact is likely to be seen in April’s data and beyond. Moolman added that future trends will depend on how oil prices and the rand respond to global developments:

# The French Development Agency has reportedly rejected a request by the City of Johannesburg for additional funding. According to News24, this was due to the metro failing to meet the terms of a 2.5-billion-rand loan it received from the AFD in 2024. In response, the metro says international development finance institutions, including the AFD, don’t have an obligation to fund Johannesburg every financial year. The AFD says it has no further financing plans with the metro in its current annual programming cycle.

# President Donald Trump’s approval rating held at the lowest of his term in recent days as many Americans questioned his temperament amid the Iran war and a feud with Pope Leo. The Reuters/Ipsos public opinion poll showed only 36-percent of Americans approve of Trump’s job performance. Trump has been under pressure since his administration and Israel launched a war against Iran in February, which has pushed gasoline prices sharply higher. The poll showed many Americans, including some Republicans, have concerns about the 79-year-old president’s temperament and mental sharpness following a series of explosive outbursts.

# Rugby: A huge battle is expected in Saturday’s meeting between the top-two teams on the United Rugby Championship, Glasgow Warriors and the Stormers, in Cape Town. The Scottish outfit has only a four-point lead over the home team ahead of the last three group matches, with home quarterfinals on offer. The Stormers lost to Connacht last weekend while Glasgow went down 54-12 to the Lions at Ellis Park. Stormers’ attacking coach Dawie Snyman says the result was more due to the Lions’ quality than any weaknesses in Glasgow.

# The financial indicators: The dollar trades at 16-rand-46-cents and the euro at 19-rand-23-cents. One British pound costs 22-rand-23-cents and Bitcoin trades at 78-thousand-579-dollars. Gold sells at four-thousand-729-dollars-86-cents a fine ounce and Brent crude oil is quoted at 96-dollars-59-cents a barrel.

# And finally: President Cyril Ramaphosa says former KwaZulu-Natal judge president, Achmat Jappie, was a longstanding champion of justice in South Africa, through his rich contributions to jurisprudence. He passed away yesterday. Jappie was appointed to the bench in 1998 and was deputy judge president before he became head of the KwaZulu-Natal courts from 2015 until his retirement in 2021. Ramaphosa says that during his 28 years as a judge, Justice Jappie entrenched the rule of law and ensured that the law protected the interests and dignity of those who deserved relief.

Stay tuned for more news………….