The rand was marginally weaker against major global currencies on Monday afternoon, as the market’s focus shifted to the when quantitative easing from key central banks might begin. Most attention is on Thursday’s meeting of key central bank officials at Jackson Hole in the US. Political risk factors, including from the administration of US President Donald Trump, and joint US-South Korean military drills this week, will also get some focus, analysts said. Rand Merchant Bank analyst John Cairns said the market would want to hear whether US Federal Reserve chairwoman Janet Yellen still thought the Fed should increase interest rates again this year. Comments from European Central Bank president Mario Draghi, regarding possible further reductions to the eurozone’s bond-buying programme, would also be watched, analysts said. The rest of the week was looking quiet, barring any renewal of the political and geopolitical events that had kept markets on edge over the past couple of weeks, Oa...
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