The rand broke below R18 to the dollar on Thursday, firming to a seven-week best after the SA Reserve Bank’s monetary policy committee raised borrowing costs by more than expected.
The Bank raised the interest rate by 50 basis points — higher than the market expectation for 25bps, bringing the central bank’s benchmark repo rate to 7.75%, the highest since 2009...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE firms as banking sentiment liftsMoves by policymakers and the purchase of most of bankrupt Silicon Valley Bank’s business offer support
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE firms as global banking fears easeConcerns about higher interest rates pushing the global economy into a recession are still evident though, analysts warn
Source: BDliveSA - 🏆 12. / 63 Read more »