MARKET WRAP: Rand inches higher after Bank keeps rates unchanged
Technology-heavy bourses lose ground amid a change in investor sentiment over the past week
18 July 2024 - 18:46
The rand remained steady on Thursday, while the JSE was slightly weaker as investors weighed prospects of interest rate cuts in the US and possible tensions between the US and China.
Locally, the Reserve Bank’s monetary policy committee (MPC) kept the interest rate (https://www.businesslive.co.za/bd/economy/2024-07-18-reserve-bank-keeps-repo-rate-steady-at-825/) steady at 8.25% and warned that “the battle against inflation is not yet won”. Four members of the committee preferred an unchanged stance, while two members wanted a reduction of 25 basis points...
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