Rand slips on dismal growth and downgrade fears
Load-shedding and the prospect of a further credit ratings downgrades are weighing on the local currency, despite a favourable global environment
14 January 2020 - 12:13
The rand was weaker on Tuesday morning, ahead of a busy week, with SA’s weak domestic growth prospects and load-shedding putting pressure on the local currency.
Ratings agency Moody’s Investors Service said on Monday that low growth and the limited scope to reduce spending will keep SA’s fiscal deficits elevated in 2020, with the prospect of SA receiving a junk status rating from that agency one of the major risks to the rand in 2020...
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