News 09:00

BULLETIN 24 October 9 am

Good morning. I am……..

In this bulletin:

# The EFF says a different monetary policy approach is needed
# ActionSA says the latest inflation data reflects the resilience of the Reserve Bank’s monetary policy
# And a strike by 33-thousand workers at Boeing continues

# The EFF has welcomed the consumer price inflation figures released by Statistics South Africa, indicating a further decline from 4.4-percent in August to 3.8-percent in September. This marks the lowest inflation rate since March 2021. The EFF’s, Leigh-Ann Mathys, says this confirms the inflationary pressures faced by the country are not demand-driven, but a result of economic and global challenges that require a different monetary policy approach:

Meanwhile, ActionSA says the lowering of the consumer price index provides a scope for the Reserve Bank to further reduce interest rates, which has real human consequences. ActionSA’s Alan Beesley says this decline is largely due to external factors such as lower global oil prices, rather than any of the government of national unity’s doing:

# The DA in KwaZulu-Natal is calling on Police minister Senzo Mchunu to urgently explore the use of body cameras to monitor police-public interactions. The minister has revealed that 107 suspects were killed by the KZN police between July 2023 and July 2024, while only one police officer was arrested after these deaths. The DA’s, Mzamo Billy, says deadly force by the police should not be regarded as an acceptable way of confronting the escalating crime levels in the province:

# Boeing’s largest union has rejected a new contract, extending a strike by 33-thousand workers that has crippled production for nearly six weeks. The International Association of Machinists union says 64-percent of its striking members voted against the proposed deal. The proposed contract would have delivered a 35-percent raise over the four-year duration of the contract. Workers had initially sought a 40-percent wage increase. Boeing CEO Kelly Ortberg told investors that they feverishly working on a solution that will work for all parties.

# Tennis: Top-seed Alexander Zverev is through to the Vienna Open quarterfinals, defeating American Marcos Giron, 6-2, 7-5. This win is the German’s 61st of the season. Zverev will next face Italian Lorenzo Musetti, who advanced to the quarterfinals after Frenchman Gael Monfils was forced to withdraw from the pair’s second-round clash due to illness. Another Italian Matteo Berrettini knocked out American Frances Tiafoe, 6-3, 6-7, 6-3, in just over three hours.

# And the financial indicators: The dollar trades at 17-rand-78-cents and the euro at 19-rand-19-cents. One British pound costs 22-rand-99-cents and Bitcoin trades at 67-thousand-226-dollars-69-cents. Gold sells at two-thousand-725-dollars-85-cents a fine ounce and Brent crude oil is quoted at 75-dollars-83-cents a barrel.

Stay tuned for more news………….