News 12:00

BULLETIN 20 November 12 pm

Good afternoon. I am……..

In this bulletin:

# Economists are divided as the Reserve Bank is set to deliver it final interest rate decision of 2025
# Trump and Vance are not invited to Dick Cheney’s funeral
# And rugby: Kolbe says they need to capitalise on their opportunities against Ireland

# Economists are divided over whether the South African Reserve Bank’s Monetary Policy Committee will cut or hold the repo rate at seven-percent. The MPC is expected to deliver its final interest rate decision for the year this afternoon. Inflation rose to 3.6-percent in October, just above September’s 3.4-percent. While Finance minister Enoch Godongwana and some economists anticipate a 25-basis-point cut, SARB governor Lesetja Kganyago says future moves depend on inflation trends and global economic conditions.

Meanwhile, union federatiion Cosatu is urging the bank to provide workers and the economy with badly needed relief, with a repo rate cut of at least 50 basis points today. At the most recent Monetary Policy Committee meeting in September, the benchmark repo rate was kept steady at seven-percent. Cosatu’s Matthew Parks says increases to the repo rate over the years have made life unbearable for millions of poorly paid workers:

# The International Monetary Fund says the world’s 20 largest economies will grow by just 2.9-percent in 2030, amid headwinds from protectionism and policy uncertainty. This is the weakest medium-term outlook since the global financial crisis of 2009. The IMF says the G20’s advanced economies – the United States, Britain, Australia, Canada, France, Germany, Italy, Japan and South Korea – are forecast to see economic growth of just 1.4-percent in 2030. The G20 emerging market economies, including South Africa, Argentina, Brazil, China, and India, should see stronger growth of 3.9-percent.

# US president Donald Trump and vice president JD Vance have not been invited to attend former vice president Dick Cheney’s funeral at Washington’s National Cathedral today. The Cheney family has an acrimonious relationship with the two-term Republican president, and actively supported his Democratic opponent, Kamala Harris, in the last presidential election. Former presidents George W Bush, who Cheney served under, and Joe Biden will be in attendance, along with Harris and other former vice presidents Mike Pence, Al Gore and Dan Quayle. 

# Rugby: Springbok wing Cheslin Kolbe says they will need to capitalise on their point-scoring opportunities against Ireland in Dublin on Saturday. South Africa last beat Ireland at the Aviva Stadium in 2012, and Saturday’s clash offers the world champions a chance to end a 13-year wait for success in the Irish capital. Kolbe says he is expecting a physical match, emphasising that they will need to adapt to the scenarios that play out on the field:

# And the financial indicators: The dollar trades at 17-rand-21-cents and the euro at 19-rand-83-cents. One British pound costs 22-rand-50-cents and Bitcoin trades at 92-thousand-nd-43-dollars. Gold sells at four-thousand-and-49-dollars-57-cents a fine ounce and Brent crude oil is quoted at 63-dollars-43-cents a barrel.

Stay tuned for more news………….