The United States wants Thabo Mbeki, and speed cameras are still down in South Africa’s richest city
The rand remained stable in early trading on Monday as investors awaited this week’s inflation data and the central bank’s policy decision for insights into the interest rate outlook.
The rand was trading at 16.2375 against the dollar, close to its previous close. Traders are focused on the consumer inflation data for August and the South African Reserve Bank’s policy decision, both scheduled for release on Wednesday.
Headline inflation cooled to 4.3% year-on-year in July, marking the first decline in five months. The central bank is widely expected to raise its main lending rate on Wednesday.
This, after surprising investors and economists by keeping it unchanged at its last meeting, citing the current policy as restrictive enough to bring inflation back to target within two years.
“Expectations are rising that the SARB will follow the Fed, ECB, and BOJ in raising rates. Failing to do so could undermine the rand’s resilience and exacerbate the negative impact that rising oil prices will have on inflation and broader monetary policy,” noted ETM Analytics.
In early trading, South Africa’s benchmark 2035 government bond was steady, with the yield at 8.685%.
On Tuesday, 22 September 2026, the rand was trading at R16.25 to the dollar, R21.75 to the pound, and R18.65 to the euro. Gold is trading at $4,342.82, while oil prices were at $101.7 a barrel.
5 important things happening in South Africa today
The United States wants Thabo Mbeki: US Ambassador Leo Brent Bozell III criticised President Ramaphosa’s handling of diplomacy and suggested that the US would prefer to consult Thabo Mbeki, who is better suited to resolve the impasse due to his expertise in international relations. “President Mbeki understands the mechanics of international diplomacy and economic engagement,” he said.
[Business Day]
Speed cameras are still down: Nearly ten months after the Johannesburg Metropolitan Police Department (JMPD) switched off its speed cameras, motorists in Johannesburg are still without camera-based speed enforcement. [EWN]
Interest rate pain expected: Analysts have changed their call on South African interest rates and now expect the central bank to raise borrowing costs this week. [Daily Investor]
Harsh penalties for hiring foreigners move forward: New restrictions and harsh penalties for hiring illegal foreign nationals, including households that employ them as domestic workers, are now open for public comment. [BusinessTech]
New Nissan SUV launched: Nissan launched its new Tekton SUV in South Africa on Monday, betting that a wave of new vehicle introductions can help to revive growth and reassure customers and dealers after the Japanese automaker exited local manufacturing this year and shifted to an import-focused business. [Newsday]
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