Alarming statement singles out upmarket shopping malls in Johannesburg and Cape Town as potential targets of extremist violence.
Analysts warn that blunders in policy could bring about a downgrade by the end of the year.
The ANC's secretary general has warned that the ruling party must win back supporters' confidence before it risks losing them for good.
Jacob Zuma has congratulated Robert Mugabe on his disputed election win, but some say Zimbabwe's MDC should not have taken part in the polls at all.
The SA Reserve Bank has done well to balance economic growth and job creation while pursuing its mandate to monitor inflation, says Pravin Gordhan.
South Africa's debt market should continue to benefit after it becomes the first in Africa to be included in a prominent global bond index.
Reserve Bank governor Gill Marcus says the monetary policy will maintain its focus on hitting a 3% to 6% inflation target over the medium term.
State bonds fell and yields climbed as SA's benchmark stocks booked their biggest daily gain in 16 months, breaking a three-day losing streak.
Gloomy comments from the reserve bank were the backdrop to a fall in bond yields and a volatile day for the rand, which ended down against the dollar.
South African blue-chip stocks closed around 1,2% higher on Tuesday as telecoms, mining and banking shares rebounded.