Rand and Eskom set to keep Reserve Bank in mood to hike rate
SA currency breaks through the R19/$ mark for the first time since April 2020
11 May 2023 - 19:10
UPDATED 11 May 2023 - 22:30
Reserve Bank deputy governor Kuben Naidoo warned on Thursday of “two big risks” that could put its monetary policy committee (MPC) off ending the interest rate hiking cycle.
The two risks are heightened load-shedding affecting the inflation outlook and the rand, which has plummeted to levels last seen at the height of the pandemic in April 2020. On Thursday, it broke through R19/$ for the first time since April 2020. By midday it was trading at R20.77/€ and R23.91/£...
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