Rand gains almost 10c to the dollar after rate cut
The rand reacted positively to SA’s first cut in 16 months, but analysts warn the global backdrop may make further cuts a risky prospect
18 July 2019 - 15:58
The rand gained a few cents after the Reserve Bank’s monetary policy committee (MPC) cut interest rates by 25 basis points (bps) on Thursday afternoon, a decision widely expected by markets.
Reserve Bank governor Lesetja Kganyago said there had been “no discussion” of a 50bps cut in the repo rate for July, although the decision to cut by 25bps had been unanimous...
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