MARKET WRAP: Rand weakens as Reserve Bank keeps repo at record low
The JSE firms, but Investec’s chief economist says last week’s violence clouds the economic outlook for SA
The rand weakened against the dollar after the Reserve Bank kept its benchmark rate at a record low, while the JSE closed firmer amid mixed global markets.
The Bank’s monetary policy committee (MPC) maintained the repo rate at 3.5% on Thursday, in line with the median forecast of 18 analysts surveyed by Bloomberg. ..