| It's risk-off for the rand today as the market awaits Finance Minister Tito Mboweni's medium-term budget policy statement this afternoon. The mini-budget, as it's informally called, sets out a three-year guideline for government revenue and expenditure, as well as government finances and growth projections. This year, the news is unlikely to be good. Weak economic growth and the resultant poor revenue collection will put additional pressure on the budget deficit and debt levels unless they are accompanied by a significant cutback in spending. And Moody's Investors Services will be watching closely for any fiscal slippage ahead of its next ratings action on Friday. As usual TreasuryONE has the latest currency-market action in today's newsletter, along with Prosus's response to accusations that it may have contributed to the weakening in rival bidder Takeaway.com's share price ahead of last week's public offer for food delivery group Just Eat. Also, results from Santova, Octodec and Acsion, and a small acquisition by Northam Platinum that will enhance its Eland platinum assets. With the rand likely to remain volatile, TreasuryONE says companies can radically improve their exchange risk profile by working with experts to add external strategy design and hedge program execution services as complements to their finance operations. If you want to gains some valuable insight into the currency market, TreasuryONE currency strategist Andre Cilliers is hosting a session on the 1st of November at 7h30, where he will share his more than 35 years of risk advice. Register here for the free session. Finally, if you need finance for your business, our partners can help you make the most informed financial decision by independently comparing SA's business lenders. Whether it be about urgently needing R5,000 for cash flow and inventory growth or for a much larger loan, they are ready to assist with the growth of your business, regardless of its size. Click here now to get started. I hope you have a good day. Stephen
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