CLAIRE BISSEKER: As crisis builds, lack of urgency and leadership remains SA’s biggest handicap
Investors haven’t given up, but growth in SA is all that matters now
06 June 2023 - 05:00
SA economists are grappling with two imponderables: why the rand has continued to weaken despite the slight easing of US-SA diplomatic tensions; and whether the Reserve Bank erred in hiking the repo rate last month, given that the rand weakened even more in response.
The most plausible explanation for the rand’s continued extreme weakness is that the shock of the US allegations that SA sold arms to Russia caused the markets to take a harder, more dispassionate look at all the background risks that have been bubbling under the surface of this economy...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.