It’s a busy week on the political and economic fronts, with inquiries into the police taking centre stage, and election campaigns gathering pace. Meanwhile, all eyes will be on the Reserve Bank as it weighs a rate move against a fresh inflation reading and rising oil prices.
Politics
Ad hoc committee reconvening, playing catch-up
Parliament’s ad hoc committee to investigate allegations made by Lt-Gen Nhlanhla Mkhwanazi failed to meet last Wednesday to finalise its draft report, and will be reconvening this Monday. The committee has been granted a seventh extension, until October 30, to finalise and then circulate its draft report. National Assembly speaker Thoko Didiza criticised committee chair Soviet Lekganyane for the numerous extensions and delays.
Madlanga commission turns its focus to Joburg
The Madlanga commission will focus on the Joburg Metropolitan Police Department (JMPD) this week, exploring the links between criminal networks and JMPD officers who have allegedly colluded with syndicates. The final report deadline for the commission was extended for a second time last week, from November 16 2026 to January 25 2027.
Campaign deadlines to focus the work of political parties
Some parties will be campaigning this week to get elderly and disabled voters registered for early voting, as applications for special votes will open on Monday. On Wednesday, contesting parties will sign the Electoral Code of Conduct, committing to peaceful, free and fair campaigning. On Friday, qualifying candidates will receive their official certificates, which should boost the campaigns of ward candidates.
Ramaphosa to deliver Heritage Day address
Thursday is Heritage Day, and President Cyril Ramaphosa will be at King Zwelithini Stadium in eThekwini, KZN to deliver the keynote address at the 2026 National Heritage Day commemoration.
Economics
Consumer price index (August 2026)
Stats SA will release August’s consumer inflation numbers on Wednesday morning. July’s CPI number increased by 4.3% year on year from June’s 5% increase, the first slowdown in inflation in five months. August’s inflation rate is expected to rise again, but not reach 5%.
The Reserve Bank will take the inflation rate into consideration when its monetary policy committee (MPC) meets on Wednesday morning.
MPC interest rates decision (September 2026)
The MPC will meet on Wednesday morning to consider its position on the Reserve Bank’s repo rate and announce its decision to either keep the rate unchanged or increase it. The market is leaning towards a 25 basis-point increase while some analysts think the Bank should hold the repo rate steady.
The market (via the Forward Rate Agreement curve) has largely priced in an increase based on higher oil prices and a more volatile Middle East, with a growing risk of second-round inflation. Crude oil prices have risen by $10 a barrel in the first three weeks of September, spiking to over $105 per barrel last week. In addition, the US Federal Reserve raised its benchmark interest rate last week.
Those more dovish on interest rates can point to falling inflation expectations in the recent Bureau for Economic Research survey, a stable rand and low food inflation. The MPC will announce its interest rate decision on Wednesday afternoon, with commercial banks ready to adjust their interest rates in response.