For Creamer Media in Johannesburg, I’m Lumkile Nkomfe.

Making headlines: Poll predicts Reserve Bank will cut rates by 25 bps Jan 30 to 7.50%; Ramaphosa says SA not worried about relationship with US under Trump; And, Gabon to hold presidential elections on April 12

Poll predicts Reserve Bank will cut rates by 25 bps Jan 30 to 7.50%

The South African Reserve Bank will trim its repo rate next week by a quarter of a percentage point to 7.50% and repeat that in March, but then delay its final 25 basis point cut of the cycle to the third quarter, a Reuters poll forecast today.

As US President Donald Trump's new administration settles into office, South Africa's Reserve Bank was expected to ease interest rates gently this year as it awaits clarification on his proposed tariffs and other policies.

All 19 economists surveyed in the past week were unanimous in saying the SARB would cut its repo rate by 25 basis points to 7.50% on Jan. 30.

A slim majority in the poll said the central bank would cut by another 25 bps to 7.25% in March.

Median forecasts showed the bank would wait until the third quarter to cut again by 25 bps, its last expected move this year and through 2027. In a December survey, a third cut was expected in May.

Johannes Khosa, economist at the Nedbank Group Economic Unit, was one of the economists who expected only two 25 bps cuts this year to put the repo rate at 7.25% by end-2025.

Ramaphosa says SA not worried about relationship with US under Trump

President Cyril Ramaphosa said that he was not worried about the country's relationship with the US under second-time President Donald Trump.

Ramaphosa said he spoke to Trump after his US election victory and looked forward to working with his administration.

Ramaphosa was speaking on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

South Africa currently holds the G20 presidency, after which the US takes over.

Ramaphosa said South Africa would work with the US to prepare it for its G20 presidency.

And, Gabon to hold presidential elections on April 12

Gabon's council of ministers said presidential elections would be held on April 12, marking an end to the military rule that began with a coup in 2023.

Ministerial cabinet meeting minutes released overnight confirmed the scheduling of the presidential election.

Gabon's interim President Brice Oligui Nguema seized power in a coup, the eight in West and central Africa between 2020 and 2023, that ended the long-standing rule of his predecessor Ali Bongo and his family over the oil-rich but impoverished nation.

In November, Gabon voted yes in a referendum on a new constitution, delivering on a promise by the military coup leaders to take steps towards restoring constitutional rule.

That’s a roundup of news making headlines today

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