MARKET WRAP: JSE and rand gain as Bank holds repo rate at 3.5%
The rand maintains the resilience that saw it dip below R15/$ late in 2020
21 January 2021 - 19:14
The JSE and the rand rose after the Reserve Bank held interest rates at a record low and as international investors bet new US President Joe Biden will push for additional fiscal stimulus measures in the world’s biggest economy.
The rand maintained the resilience that saw it dip below R15/$ late in 2020 after the Bank held its repurchase rate at 3.5% at its first monetary policy meeting of 2021. Governor Lesetja Kganyago said the bank has revised its growth forecasts and now expects GDP to grow 3.6% in 2021, up from November’s forecast of 3.5%...
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