Motion of No confidence will be successful on Thursday and the whole cabinet resigns. The people who are going to be in the Cabinet afterwards will be New Ministers, & this includes the Minister of Finance. So the Wednesday budget will be delivered by a New Minister of Finance.
The #AbsaPMI declined to 44.9 points in December 2017 from 48.6 in November. The deterioration was broad based with all five subcomponents of the headline index falling compared to November’s level.
https://t.co/pX3x0KXezu
US Federal Reserve has increased interest rates by 25bps as expected. Importantly, the Fed has revised up their growth forecast for 2018 from 2.1% to 2.5% while the unemployment rate is forecast to decline to 3.9%. Solid
Don’t let social media fool you, there is nothing glamorous about entrepreneurship!!! People will show you the finished product, but never the journey.
Ok, what this means is S&P downgraded SA’s rand denominated debt to junk. Moody’s didn’t. We therefore stay in the World Government Bond Index because our rand debt is still investment grade at Moody’s https://t.co/16QNdhSKGq
Ok, so here’s the #rating round-up for #SouthAfrica
S&P lower LCY and FCY ratings, outlook now stable
Moody’s put SA rating on watch for downgrade. Higher risk (versus negative outlook) that downgrade happens
Not looking good