News 09:00

BULLETIN 20 September 9 am

Good morning. I am……..

In this bulletin:

# ActionSA says the interest rate cut is a positive step
# King Misuzulu KaZwelithini is worried about his safety
# And America warns against an escalation after the strikes in Lebanon

# ActionSA has welcomed the South African Reserve Bank Monetary Policy Committee’s 25 basis-point cut in its benchmark repo rate, lowering it to eight-percent. The rate cut was widely expected given that the US Federal Reserve cut its rate by 50 basis-point. ActionSA’s, Alan Beesley, says while this is a positive step, there is room for bolder action, especially considering the severe financial strain faced by many households:

Meanwhile, the GOOD Party says the cut will bring some relief to consumers struggling with high debt levels and high interest rates. This is the first interest rate cut since the Covid-19 pandemic in 2020. GOOD’s secretary-general, Brett Herron, says South Africans, who are deeply indebted, have experienced years of increased and high interest rates:

# AmaZulu King Misuzulu KaZwelithini reportedly believes his safety has been compromised, and has written a letter to Police minister Senzo Mchunu requesting an urgent meeting. According to News24, the King has requested that a member of the Presidential Protection Services unit assigned to him be withdrawn from his post, citing security concerns. He says he is not comfortable having the official around him and the Royal Households, without giving reasons. Mchunu’s office has confirmed it has received the letter from the King.

# The US State Department says America is committed to the defence of Israel against terrorist organisations, which includes Hamas, Hezbollah, and other Iranian proxies. At least 37 people were killed and nearly three-thousand wounded in a wave of explosion attacks in Lebanon, that targeted Hezbollah’s pagers and walkie-talkies. This comes as the Israeli Defence ministry announced a new phase in the war. The department’s spokesperson, Matthew Miller, says they don’t want to see any party escalate this conflict:

# Soccer: Five-time champions Barcelona opened their Champions League campaign with a two-one defeat to Monaco, after playing most of the match with ten men following an early red card for defender Eric Garcia. Arsenal battled to a goalless draw away at Atalanta, while Atletico Madrid scored a 90th-minute winner to see off RB Leipzig two-one. Bayer Leverkusen marked their return to Europe’s top club competition with a four-nil win against Feyenoord. Brest made a winning start on their Champions League debut after they beat Sturm Graz two-one.

# And the financial indicators: The dollar trades at 17-rand-48-cents and the euro at 19-rand-53-cents. One British pound costs 23-rand-25-cents and Bitcoin trades at 63-thousand-811-dollars-47-cents. Gold sells at two-thousand-592-dollars-62-cents a fine ounce and Brent crude oil is quoted at 74-dollars-67-cents a barrel.

Stay tuned for more news………….