MARKET WRAP: Rand firms as focus turns to Fed meeting
Currency gains on rising likelihood of higher local rates after Stats SA reports worse-than-expected inflation data for February
22 March 2023 - 19:33
The rand broke a five-day losing streak on Wednesday as investors digested worse-than-expected local inflation data, while the JSE closed firmer with markets focused on the outcome of the US Federal Reserve policy meeting.
SA annual consumer inflation rose for the first time in four months in February. The headline consumer price index (CPI) rose at an annual rate of 7% in February, up from 6.9% in January and above the Bloomberg median estimate of 6.8%...
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