Breakfast Edition: 18 March 2016

REPO RATE INCREASE: The South African Reserve Bank (SARB) on Thursday increased the repo rate by a 25 basis point to seven percent per annum, effectively from March 18, 2016. The prime lending rate, the figure charged by banks to customers, will increase to 10.5 percent. In January the bank hiked the repo rate by 50 basis points to 6.75 percent, pushing the prime lending rate to 10.25 percent. Before the announcement, economists were divided on whether the bank would hike rates or keep them unchanged as it tries to tame the stubborn inflation. "Food price pressures, driven by the drought and the depreciated exchange rate, have intensified by more than previously forecast and remain a significant upside risk to inflation," SARB Governor Lesetja Kganyago said. The rand has firmed even more since yesterday's interest rate hike and Efficient Group Economist, Francois Stoffberg is also positive about the increase. 

JACOB ZUMA ANSWERS QUESTIONS IN PARLIAMENT: Opposition parties, especially the DA, were not satisfied with Thursday's Question and Answer session with President Jacob Zuma in parliament. Zuma denied being controlled by the whims and wishes of the Gupta-family but it was his comment about the rand that brought DA-leader Mmusi Maimane to his feet - eventually leading his party out of the house. Samkele Maseko reports. 

SPORTS MINISTER REACTS TO GUPTA-GATE ALLEGATIONS: Minister of Sport, Fikile Mbalula was on Thursday asked about his encounter with the Guptas. A question was posed to the minister on whether or not he was called by a member of the family to inform him that he was going to be appointed to the job. 

MBALULA REACTS TO FIFA BRIBE ALLEGATIONS: Mbalula also stood firmly by the South African government's position that it legitimately paid out $10 million to FIFA officials to benefit the African Diaspora Legacy Programme. He again said it was not a bribe for votes and demanded that FIFA retract this allegation. Trevor Cramer reports.

ROADS STILL AFFECTED IN ZANDSPRUIT: A section of Beyers Naudé road near the Zandspruit informal settlement was re-opened on Friday morning after three days of violent protests. However the Johannesburg Metro Police's Edna Mamonyane has advised motorists to put safety first. Police spokesman, Kay Makhubela says there was another incident of attempted looting last night. 

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