Boxer CEO sends a warning to South Africans, and R41 billion down the drain in South Africa
The rand remained stable on Monday as investors remained cautious due to the ongoing conflict in the Middle East.
They are also awaiting key US inflation data later this week for insights into the Federal Reserve’s interest rate plans. The rand traded at 16.50 against the dollar, unchanged from its previous close.
Investor attention is focused on Wednesday’s US Consumer Price Index (CPI) report, which is one of the last significant data releases before the Federal Reserve’s policy meeting later this month.
The Fed raised interest rates last month for the first time since 2023 to control inflation. Markets are closely monitoring economic data to assess whether policymakers might take further action.
According to the CME FedWatch tool, traders now price in an 81% chance that the Fed will maintain its current rates this month, up from 51% a month earlier.
ETM Analytics noted that a stronger-than-expected US CPI reading could reignite expectations of further Fed tightening, potentially challenging the rand’s recovery.
With no major domestic data scheduled for release, the rand is influenced by global developments, particularly US economic indicators and geopolitical events.
South Africa’s benchmark 2035 government bond remained flat in early trading, with a yield of 8.795%. [Reuters]
On Tuesday, 13 October 2026, the rand was trading at R16.53 to the dollar, R21.85 to the pound, and R18.47 to the euro. Gold is trading at $4,194.80, while oil prices were at $105.40 a barrel.
5 important things happening in South Africa today
Boxer CEO sends a warning to South Africans: Boxer CEO Marek Masojada has warned that retail groups might be unable to avoid passing on the costs of high fuel prices to consumers if the war between Iran and the US and its ally Israel persists for an extended period, and pump prices continue to rise. [Business Day]
R41 billion down the drain in South Africa: South Africa is losing more than R41 billion in water and electricity every year due to municipal losses, theft, faulty infrastructure, and other inefficiencies. [Daily Investor]
RAF tax increase shot down: Minister Barbara Creecy has said the Department of Transport would not apply to the National Treasury to increase the Road Accident Fund (RAF) levy to R3 per litre while she is in Cabinet. [MyBroadband]
End of a 30-year era for Boxer: Boxer CEO Marek Masojada will retire in February 2027 after more than 30 years with the South African discount retailer. [BusinessTech]
Zuma still in hospital: Former president and uMkhonto weSizwe (MK) Party leader Jacob Zuma remains in hospital at Netcare St Anne’s Hospital in Pietermaritzburg. [eNCA]
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