Rand improves as investors consider implications of Fed cut
Tuesday’s cut was the first emergency reduction by the US Federal Reserve since the global financial crisis of 2008
04 March 2020 - 11:15
The rand was slightly firmer on Wednesday morning as investors mulled over the US Federal Reserve's (Fed's) decision to cut interest rates amid fears about the economic damage caused by the coronavirus.
As markets find some support this week amid hope that central banks will move to mitigate the effects of the outbreak, the Fed cut interest rates by 50 basis points on Tuesday. This was the first emergency cut by the Fed since the global financial crisis of 2008. More than 3,000 people have died due to the virus...
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