WHAT TO WATCH NEXT WEEK
Monday July 4
- Central Bank of Uganda to launch its Central Bank Rate.Uganda shift its monetary policy to target inflation rather than money supply growth and launches the central bank interest rate. The bank has traditionally watched the amount of money in circulation in line with economic activity instead of price stability.
- Ghana MPC meeting The Monetary Policy Committee of the Bank of Ghana begins meeting on July 4th. Press conference on July 8th 2011 will announce the decision of the Committee.
- South Africa-June Car sales South African Automobile Association releases June new vehicle sales data. Sales growth slowed sharply in May as the availability of parts from Japan after an earthquicke in that countryhurt sales.
- Ghana-Tullow announces share price and close on GSE Tullow will announce the price and close of its four million shares listed June 12 on the GSE.Tuesday, July 5
- South Africa-Wage talke between union NUM and Chamber of Mines. – The National Union of Mineworkers rejected a 4 percent pay rise offer from gold companies. The union is demanding a 14 percent rise in salaries and hopes that the companies will revise the offer.
- South Africa-Business confidence index. The South African Chamber of Commerce and Industry (SACCI) releases Business Confidence Index for June. The index fell to 85.8 points in May from 86.9 in April.
Thursday, July 7
- Zimbabwe’s coalition government leaders, President Robert Mugabe and rival Prime Minister Morgan Tsvangirai, launch a five-year economic development plan that is expected to lift a country struggling to recover from years of recession
- South Africa June foreign reserves data South Africa’s international liquidity position fell to $45.864 billion in May, mainly on valuations. The central bank has generally slowed its pace of reserves accumulation in the past few months, suggestion that it is comfortable with the currency’s gains that have helped to cushion the impact of higher oil and food prices.
- South Africa’ Reuters Econometer South Africa’s growth forecasts increased in May as the recovery was seen gaining momentum in the second half of the year.
Friday, July 8
- Ghana MPC decision after week-long meeting The MPC press conference to announce the decision of the Committee on the appropriate positioning of the Bank’s policy rate.The bank cut its prime rate by 50 basis points to 13 percent in May citing a stable inflation outlook. The decision was a surprise as the market was expecting rates to remain steady.
Source: Reuters Africa newsletter
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