The rand stabilised at relatively stronger levels on Thursday morning, piggybacking on the favourable global market mood. Equities convincingly pushed higher in early trade after days of dithering, with participants opting to shove geopolitics to the background, at least for the moment. Similarly, the rand appeared to be finding some traction after hovering at about R12/$ for days in an apparent consolidation. TreasuryOne currency dealer Andre Botha said in an e-mailed note to clients that better-than-expected inflation figures on Wednesday "only added credence to the fact that the rand’s strength is starting to have a definite impact on the South African economy". "Does this mean that we will have a spate of interest rate cuts? Before we saddle up our horses and proclaim it far and wide about possible interest-rate cuts, the governor of the Reserve Bank spoke in Washington yesterday and he reiterated the cautious stance that the MPC [monetary policy committee] will still employ." B...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.