Ahead of one of the most anticipated policy decisions since the outbreak of  Covid-19, the rand was near a 10-month low as economists remained divided on whether the Reserve Bank will start raising interest rates to contain faster inflation.

SA’s currency was the second-most volatile among emerging-market peers between Tuesday and Wednesday, with only Turkey’s lira, which is dogged by uncertain policy and a central bank that lacks credibility due to political interference, having bigger swings...

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