Cautious optimism, rand resilience ahead of Sona 2016

Redi Tlhabi interviewed The Money Show’s Bruce Whitfield from Parliament ahead of President Jacob Zuma’s State of the Nation Address.

Whitfield perceived a sense of cautious optimism (despite the sound of stun grenades), pointing to the rand’s surprising resilience.

Scroll down for quotes from the audio below.

Jacob Zuma’s meeting with business leaders is an extraordinarily positive development.

Bruce Whitfield, The Money Show

The crisis of confidence in the economy is what led to these talks.

Bruce Whitfield, The Money Show

There’s a sense of optimism.

Bruce Whitfield, The Money Show

While stun grenades are going off the military band played the Pink Panther theme song and Mango Groove’s ‘Hellfire’.

Bruce Whitfield, The Money Show

The President is not comfortable addressing issues of the economy.

Bruce Whitfield, The Money Show

You may be cynical about Sona, but the currency market shows the market is expecting something less than awful.

Bruce Whitfield, The Money Show

A ratings downgrade will see the currency depreciate sharply. So, today is important. But it’s a building block towards the Budget Speech in 13 days’ time.

Bruce Whitfield, The Money Show

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This article first appeared on 702 : Cautious optimism, rand resilience ahead of Sona 2016


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