Rand at five-week low as Fed plays down rate cuts
The US Federal Reserve cut interest rates by 25 basis points as expected on Wednesday, but suggested it is not seeking to cut further
01 August 2019 - 10:04
The rand was weaker against major global currencies on Thursday morning, under pressure after the US Federal Reserve indicated fewer interest rate cuts may be on the way than the market expected.
The Fed cut interest rates by 25 basis point, but Fed chair Jerome Powell used the term “mid-cycle adjustment”, indicating that the world’s most influential central bank is not engaging in a new cutting cycle...
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