Rand weakens ahead of MTBPS later in the week
Investors are hoping for more detail and direction from finance minister Tito Mboweni’s budget policy statement
The rand was looking likely to break its five-day winning streak on Monday, as local focus shifted to the much-anticipated medium-term budget policy statement (MTBPS) this week.
In his economic reconstruction and recovery plan address, President Cyril Ramaphosa failed to provide clear details on how the government planned to finance the ambitious goals to revive the SA economy. Investors are hoping to get more in-depth detail and direction from finance minister Tito Mboweni’s MTBPS, expected to be tabled on Wednesday...