[CURRENCY] At 06:15 GMT, the rand traded at R17.76 against the dollar, which appears steady before the central bank’s interest rate decision later today. Moneyweb Currency
The rand was steady in early trade on Thursday before the central bank’s interest rate decision later in the day. At 0615 GMT, the rand traded at R17.76 against the dollar, less than 0.1% weaker than its previous close. The South African Reserve Bank will announce its latest monetary policy move at a news conference starting around 1300 GMT, a day after the US Federal Reserve delivered another 75 basis point rate hike.
Read: US Fed delivers big rate hike Economists polled by Reuters predict the Sarb will also raise rates by 75 bps as part of efforts to bring inflation back within its 3%-6% target range. Data on Wednesday showed August inflation eased to 7.6% year on year from 7.8% in July, still well above the bank’s target although suggesting inflation may have passed its peak.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand on back foot before inflation numbers, Fed[CURRENCY] At 06:25 GMT, the rand traded at R17.73 against the dollar, about 0.3% weaker than its previous close. Before the release of domestic inflation data and a policy announcement by the US Federal Reserve. Moneyweb Currency
Read more »
Economist Roodt warns consumers to brace for substantial interest rate hikeThe South African Reserve Bank (Sarb) is expected to announce the interest rates on Thursday following a meeting by the Monetary Policy Committee.
Read more »
Sarb expected to hike repo rate to pre-virus levelsThe SAReserveBank is expected to fully unwind its extraordinary pandemic-era stimulus measures when it raises interestrates on Thursday. Moneyweb Economy
Read more »
D-Day for Fed rate announcement has the battered rand on the ropesThe rand was on the back foot in morning trade on Wednesday (21 September), as it drifted towards R18:00 to the dollar ahead of a slew of data both locally and internationally.
Read more »
Fed sees another 1.25% rate increase this year[ICYMI] On MoneywebNOW podcast with SimonPB, Investec's Tertia Jacobs will focus on up-coming SARB decision. Perpetua_Invest's Lonwabo Maqubela to share investable construction stocks on the JSE. Download the podcast below. Moneyweb InterestRate
Read more »
Business Maverick: Turkey set on ultra-loose course after shock rate cutThe country’s central bank isn’t about to reverse course after a shock decision to cut interest rates last month and may even surprise by easing monetary policy again despite raging inflation.
Read more »