Sources: Tesla (TSLA.O) has submitted a proposal to Indian officials to build a factory for battery storage products.

South African Central Bank Governor: Developed economies were talking about the possibility of a recession at some stage, but that doesn’t seem to be happening.

South African Central Bank Governor: Recession is not in our basic expectations.

Governor of the South African Central Bank: In the past few months, real interest rates have risen, not because of anything the central bank has done, but because the effects of the policies are starting to show and inflation is falling.

Pakistan Energy Minister: Pakistan has insufficient supply of LNG through long-term contracts. Pakistani industry may face gas shortage during winter.

JPMorgan expects the Bank of England to keep interest rates unchanged in November this year and in 2024.

The Istanbul Stock Exchange Bank Index rose 2.64%.

Market news: British prosecutors will prosecute five Bulgarians for alleged involvement in the Russian espionage case.

South African Central Bank Governor: Will be ready to take action if inflation risks arise.

South African Central Bank Governor: Our work on dealing with inflation is not done yet.

Governor of the South African Central Bank: Increasing energy supply, moderating managed price inflation, and bringing real wage growth in line with productivity will enhance the effectiveness of monetary policy and transmit it to the broader economy.

The Governor of the South African Central Bank: Guiding inflation back to the midpoint of the target range can reduce the economic cost of high inflation and will enable lower interest rates in the future.

South African Central Bank Governor: Decision-making will continue to be data-dependent and sensitive to the outlook, inflation and reported balance of risks.

South African Central Bank Governor: The policy is restrictive and consistent with the inflation outlook. Inflation expectations are rising and there are serious upside risks. Therefore, given these risks, the inflation outlook remains and the Committee remains vigilant and stands ready to take action should risks begin to materialize.

South African Central Bank Governor: Three members of the Monetary Policy Committee support keeping interest rates unchanged and two members support raising interest rates.

The South African Central Bank kept the repo rate unchanged at 8.25%, in line with market expectations.

Governor of the South African Central Bank: South Africa’s external financing needs will increase as the current account deficit increases, expanding from 2% of GDP this year to 3% of GDP in 2024, and to 3.4% of GDP in 2025.

Market News: UAE considering controls on sanctioned technology used in conflict with Russia.