In the news:
Today’s Weather Forecast for South Africa
See the latest weather forecast and warnings across South Africa. From Heat Waves to Thunderstorms, stay up to speed with TODAY’S Regional Weather Forecast: 3 March 2022.
South Africa remains neutral as the UN General Assembly votes against Russia
On Wednesday, the United Nations (UN) General Assembly voted to condemn Russia’s invasion and “demands” that Russia “immediately” withdraw from Ukraine.
Over the two-day debate, nations worldwide debated the conflict. However, this resolution is not enforceable but serves as a strong political statement.
Out of the 193 member states, 141 were in favour of the resolution and only five countries – Eritrea, North Korea, Syria, Belarus and Russia – voted against the resolution.
And China and South Africa were among the 35 countries which abstained.
The South African Reserve Bank may be forced to accelerate interest rate hikes
As the conflict between Russia and Ukraine enters its seventh day, oil prices reach past $110 a barrel. And so South African markets are dealing with the prospect that the SA Reserve Bank may be forced to hike up the interest rate sooner than planned.
On Wednesday, benchmark yields were pushed to the highest level since December 2021 due to the South African local bonds falling with their international counterparts.
And so the prospect of interest rate hikes comes after the SARB governor announced that the central bank decided to lift the repo rate to 4% in January. And now economics are foreseeing the repo rate to be lifted to 5% by year-end.
What’s for dinner?
Probably the question everyone dreads on a daily basis is, what’s for dinner? Well, what about our daily selection of: Pulled Chicken Bunny Chow with Fresh Pot Bread
Are you last night’s Lotto winner of R85 million?
Did you miss last night’s Lotto numbers? See them here: Wednesday’s Daily Lotto Results for 2 March 2022 and Wednesday’s Lotto and Lotto Plus Results for 2 March 2022.