MARKET WRAP: Rand slumps on power cuts and global growth concerns
Effect of KwaZulu-Natal floods on the national economy and intensifying war in eastern Ukraine add to market jitters
19 April 2022 - 19:06
The rand slumped to the lowest level in a month on Tuesday, burdened by global growth concerns, the effect of floods in KwaZulu-Natal and further blackouts by Eskom.
The global mood was also sombre as the IMF slashed its world growth forecast by the most since the early months of the Covid-19 pandemic — and projected even faster inflation — as a result of Russia’s invasion of Ukraine and renewed virus lockdowns in China...
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now