News 14:00

BULLETIN 17 November 2 pm

Good afternoon. I am……..

In this bulletin:

# Nedbank expects a 25-basispoint interest rate cut on Thursday
# The Information Regulator orders the release of Jacob Zuma’s tax records
# And police are investigating the death of two athletes during the Ironman Mossel Bay race

# Nedbank economists expect another 25-basis point interest cut at the South African Reserve Bank’s final Monetary Policy Committee meeting of the year this Thursday. The forecast is driven by lower-than-expected inflation data for August of 3.3-percent which came in above the bank’s preferred three-percent anchor. Nedbank highlights that a stable rand and general global disinflation provide a favourable environment for easing monetary policy. However, risks remain due to local administered prices like electricity and the US Federal Reserve potentially holding its rates.

# The Information Regulator has instructed the South African Revenue Services to release former president Jacob Zuma’s tax records. This follows an investigation which found SARS had no legal basis to deny access following a Promotion of Access to Information Act application. The records relate to tax years 2010 to 2018. The regulator says South African law does not allow absolute information secrecy, especially where wrongdoing may be suspected. It has also raised concerns about many entities still failing to make PAIA manuals publicly accessible, saying this is a criminal offence.

# Police major-general Mary Motsepe has told the Madlanga commission she did not know dockets from political killings in KwaZulu-Natal were sent to Crime Intelligence headquarters for auditing. She testified she first informally heard of the move in March this year. Motsepe confirmed she learned later that officers were collecting the dockets, which were then stored in a national office strong room in Gauteng:

# The City of Tshwane’s Emergency Services Department says no major incidents have been reported as thunderstorms and heavy downpours continue. The South African Weather Service’s level 9 alert has been downgraded to level six across the province. Emergency service spokesperson, Nana Radebe-Kgiba, says possible flooding remains the main hazard for the day:

# Triathlon: Police in Mossel Bay in the Western Cape have opened inquest dockets after two participants of an Ironman race died yesterday. Ironman South Africa says both participants, aged 29 and 58, experienced separate medical emergencies during the swimming leg of the race at Santos Beach, with the incidents occurring roughly 15 minutes apart. Police spokesperson Chris Spies says autopsies to determine the cause of death will be conducted later this week.

# And the financial indicators: The dollar trades at 17-rand-5-cents and the euro at 19-rand-79-cents. One British pound costs 22-rand-45-cents and Bitcoin trades at 95-thousand-503-dollars. Gold sells at four-thousand-and-83-dollars-68-cents a fine ounce and Brent crude oil is quoted at 63-dollars-89-cents a barrel.

Stay tuned for more news………….