Rand slips the most in three weeks over inflation and growth concerns
18 October 2021 - 18:58
The rand dropped the most in three weeks on Monday, ending a four-day winning streak on disappointing growth data from China and persistent concerns that inflation will remain elevated longer than global central banks expect — forcing them to raise interest rates sooner and faster than anticipated.
The latest trigger on potential tighter monetary policy was a comment by Bank of England governor Andrew Bailey that central banks may have to act and show “vigilance on inflation expectations”. He warned that inflation may stay elevated due to higher energy costs...
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