Double blow on the cards for South Africa
Following the SARB’s decision to hike interest rates this week, there is a chance that another hike will follow in July.
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Following the SARB’s decision to hike interest rates this week, there is a chance that another hike will follow in July.
The rand and local markets are trading weaker at the start of the new week, weighed by the protracted Iran War and forecasts of higher inflation.
The South African rand has come under pressure in the new week as markets digest the latest signals from the United States Federal Reserve, and the Iran War continues to bite.
After being flooded with positive sentiment at the start of the year, the rand is back in the basket of worst-performing currencies thanks to the war in the Middle East.
The R3 per litre fuel levy relief granted to South African motorists in April is going to come back to bite, one way or another.
The rand is under pressure as markets pause ahead of a critical deadline for the US-Iran war.
While a COVID-like lockdown is not currently on the cards for South Africa, work-from-home may become the most viable solution to address record fuel price hikes.
The rand is taking a beating as markets stick to a risk-off stance, worried about prolonged conflict in the Middle East and the resulting disruptions to global oil supplies.
This evening we dive into the latest market movements with PrimeXBT, we speak to Investec about the global implications of the ongoing conflict in Iran, we discuss Santam’s recent financial results, we look at the proposed amendments to the Itac Act by the dtic, we unpack the estimated costs for retrofitting Medupi power station with…
The rand has weakened sharply against the US dollar over the past week. Economists and analysts have laid out where they expect things to go from here.