Rand firms after Reserve Bank leaves rates unchanged
The MPC’s decision was in line with a median forecast of 19 economists in a Bloomberg survey
The rand was firmer after the SA Reserve Bank’s monetary policy committee (MPC) kept the repo rate unchanged at a record low 3.5% on Thursday, as markets expected.
At 3.20pm, the rand had firmed 0.93% to R14.6755/$, after initially reaching R14.6814/$ shortly after the Bank’s announcement. It was 0.69% firmer at R17.2026/€ and 0.20% stronger at R20.1173/£. The euro was had gained 0.25% to $1.17215..