Rand set for rocky ride with eyes on Tito Mboweni
Local currency's 0.88% gain against dollar, plus easing inflation fear boost prospects for interest-rate cut
27 October 2019 - 18:30
Fresh from a run of weekly gains pushing it to its best monthly gain since January, the rand could be in for a rocky ride as investors await details of finance minister Tito Mboweni’s plans to fix SA’s fiscal position and appease credit-rating agencies.
Mboweni's medium-term budget policy statement (MTBPS) on Wednesday will probably confirm that a weak economy, tax-collection shortfalls and bailouts for state-owned enterprises such as Eskom will saddle SA with its widest budget deficit in a decade. ..
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.