Rand at five-month high after mildly hawkish rate cut
The Reserve Bank cut interest rates by 25 basis points on Thursday, with market expectations of a 50 basis point cut continuing to unwind a little
19 July 2019 - 10:23
The rand was at its best level against major global currencies since February on Friday morning, continuing to benefit from the prospect of loose monetary policy globally and a cautious Reserve Bank stance domestically.
The Bank cut interest rates 25 basis points (bps) on Thursday, but dampened expectations for further cuts, citing an uncertain global economic outlook as well as structural problems within SA’s economy...
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