Rand weakens after Reserve Bank cuts interest rate
While lower interest rates could stimulate economic activity, they make SA bonds less attractive to investors seeking higher yields
16 January 2020 - 15:20
The rand erased gains on Thursday afternoon as the SA Reserve Bank cut the repo rate by 25 basis points for the first time since July.
Shortly after the announcement the rand had weakened 0.23% to R14.4218/$ while it had firmed 0.13% to R14.3702 just 11 minutes before that. It had softened 0.4% to R16.1078/€ and 0.48% to R18.848/£. ..
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