November 27, 2013.
From Creamer Media in Johannesburg, I’m Zandile Mavuso.
Making headlines:

South Africa’s central bank is concerned about the upside risks to inflation.

President Jacob Zuma says South Africa and Ghana need to cooperate to create jobs.

And, South Africa's biggest union may break away from the ANC.
 

The South African Reserve Bank said on Tuesday it is concerned about upside risks to inflation and may need to take "appropriate action" if there is a significant risk to the medium-term outlook. This could be a sign that it may consider a rate hike.

In its November monetary policy review, the central bank also reiterated its stance of non-intervention in the foreign currency market to influence the rand exchange rate.

The rand has fallen about 20% against the dollar this year, weighed down by negative sentiment over strikes that have hit manufacturing and mining output, and expectations of a sell-off of emerging markets once the US Federal Reserve starts scaling back its stimulus.

"There is no particular level of the exchange rate that would trigger a monetary policy response by the MPC," the Reserve Bank said.

President Jacob Zuma said this week that South Africa and Ghana need to work together to ensure the memorandums of understanding (or MOUs) they have agreed on produce jobs.

Addressing Ghanaian President John Mahama and other delegates during a visit to the West African country, Zuma said that in 2011, during the state visit to South Africa by the late president of Ghana John Atta Mills, the two governments signed seven MOUs.

He added that more MOUs, including those of co-operation in electricity, a bilateral air service agreement, co-operation in transport related matters and a bureau of standards were expected to be signed during his visit.

Ghana is now South Africa's second largest export market in West Africa, while South Africa's investment in Ghana's economy amounted to more than R5-billion in 2012. Zuma added that both countries needed to encourage a further improvement in this area.

 

Senior union sources said on Tuesday that South Africa's biggest union is considering pulling out of the ANC-aligned Congress of South African Trade Unions labour federation to form its own political entity. The split could hurt the ruling party in the 2014 elections.

The National Union of Metalworkers of South Africa (or NUMSA) is increasingly at odds with the ANC and Cosatu over labour policies it says are too pro-business. Numsa is part of an official, three-way governing alliance that also includes the Communist Party.

Coupled with anger at a perceived increase in corruption under President Jacob Zuma, the 350 000-strong union is now on the brink of walking out on a 25-year relationship forged in the common struggle against white-minority rule.

Numsa officials said that union bosses were circulating a document ahead of a key December meeting asking whether it should form a labour party, civic movement or a worker federation to go head-to-head with Cosatu.

Also making headlines:

A referendum on Egypt's amended constitution will be held in December

And, Liberian president Ellen Johnson Sirleaf says youth unemployment is a threat to peace and security in that country.

That's a roundup of news making headlines today.