MARKET WRAP: Rand plunges on Eskom and inflation fears
Consumer prices in the US and China in October rose well above forecasts, raising the prospect of higher interest rates sooner than expected
10 November 2021 - 18:28
The rand weakened on Wednesday, in line with most emerging-market currencies, as the world’s two biggest economies reported disappointing inflation data.
The US consumer price index rose 6.2% from a year ago — the fastest annual pace in more than 30 years, and well above the market expectation of 5.9%. On a monthly basis, prices rose 0.9%, also above the 0.6% estimate...
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