The rand was slightly weaker against the dollar on Monday just before midday as markets look forward to the Jackson Hole central bank conference on Thursday. European Central Bank (ECB) president Mario Draghi and Federal Reserve chairperson Janet Yellen’s speeches are widely anticipated as they shed light on when quantitative easing programmes will begin and what will be done with the inflation conundrum. Chief market strategist at FXTM, Hussein Sayed, said with the euro’s strength becoming a concern for monetary policy makers, Draghi would be watched as to what his plans with quantitative easing were. Rand Merchant bank analyst John Cairns said the market would want to hear if Yellen still thought the Fed should increase interest rates again this year, "perhaps because of financial stability concerns, despite the ongoing undershoot in inflation". Emerging markets like SA keep tabs on developed market central banks’ policy decisions as they can affect capital flows to them. At 11.30...
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