Rand rises against euro as ECB turns on the money taps again
The European Central Bank says it expects key interest rates to remain at their present levels or lower until inflation picks up
12 September 2019 - 16:49
The rand reached its best level in just over a month against the euro on Thursday after the European Central Bank (ECB) opted to cut its interest rate and introduce stimulus efforts.
On Thursday, the ECB cut the interest rate on the deposit facility by 10 basis points to -0.50% and said it would restart quantitative easing at a monthly pace of €20bn as of November 1...
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