MARKET WRAP: Rand firms after interest rate cut
Reserve Bank trims repo rate as expected but strikes a cautious note on the economic outlook
21 November 2024 - 19:50
The rand was slightly firmer on Thursday after the SA Reserve Bank’s monetary policy committee (MPC) cut its benchmark interest rate by 25 basis points (bps), in line with market expectations.
Though the decision to reduce the repo rate to 7.75% was unanimous, governor Lesetja Kganyago’s statement was less optimistic than expected, reflecting the Bank’s concern about the economic outlook...
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