Breakfast Edition: 29 January 2016

CONCERN OVER REPO RATE HIKE: Concern is mounting over the squeeze on the middle class. The South African Reserve Bank governor, Lesetja Kganyago on Thursday announced a repo rate increase of 50 basis points. The interest rate hike was announced on Thursday following a three-day meeting of the SARB's Monetary Policy Committee. This means the repo rate, the rate at which the SARB lends money to banks, will rise to 6.75%. The prime lending rate now stands at 10.25 %. The rate has climbed by 1.75 basis points since the beginning of the current cycle that started in January 2014. FNB's Household and Property Sector Strategist John Loos explains the impact.

FUEL PRICE HIKE EXPECTED: Motorists could expect to pay more for fuel in February. The Department of Energy will on Friday announce the fuel price adjustments for next month. The price was expected to increase by between 0.03 and 0.06 cents a litre. This increase was mainly due to the weak performance of the rand against the US dollar. AA spokesperson Layton Beard has more.

ANC ASKS MARIUS FRANSMAN TO STEP ASIDE: ANC Western Cape chairperson Marius Fransman was on Thursday asked to step down pending the finalisation of a sexual harassment investigation. A woman accused Fransman of sexual harassment while they travelled to the North West for the ANC birthday rally in Rustenburg earlier this month. Fransman denies the claims. ANC spokesperson, Zizi Kodwa explains.

MINISTER PRAISES JACARANDA FM'S PROJECT WATER DROP: Water Minister Nomvula Mokonyane told the Complimentary Breakfast on Friday morning that climate change was complicating government's responsibility to connect local communities across the country to the national water grid. She added that even though the current devastating drought had led to serious water shortages, government is aware that more could be done to tackle the infrastructure problems.

IEC SILENCES CRITICS: The IEC held a seminar on the enforcement of the electoral code of conduct that included political parties, the SAPS and the NPA and civil organisations on Thursday. While we wait for the official announcement of a date for the municipal elections, the IEC has hit back at its critics, urging South Africans to stop tarnishing its image. The agency briefed the media yesterday. Samkele Maseko filed this report.

ZIKA VIRUS SPREADING RAPIDLY: The hunt for a vaccine to prevent the Zika virus could take years, a top US health chief said Thursday amid a worrying outbreak of the mosquito-borne illness blamed for birth defects. There is no vaccine or treatment for Zika, which the World Health Organization said is "spreading explosively" through the Americas and may lead to as many as four million cases in the region. 

BARBIE GETS A MAKEOVER: Toy manufacturer Mattel on Thursday released three new body shapes for Barbie. The world's best-selling doll has been a symbol of a certain kind of beauty for generations, recently coming under fire for its lack of diversity. The new body types include different skin tones and hair textures.

LEONARDO DICAPRIO MEETS THE POPE: Leonardo DiCaprio had a 15-minute meeting with Pope Francis at the Vatican today. The 41-year-old actor had a 15-minute private meeting with the Roman Catholic authority, 79, at the Vatican in Vatican City, based in Rome, Italy, to discuss climate change.

FINANCIAL INDICATORS:

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