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MARKET WRAP: Rand weakens ahead of uncertain interest-rate decision

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Cannon Asset Managers CE Adrian Saville believes the Bank is likely to lower interest rates by 25 basis points, with a small chance of a 50 bps cut

The rand closed weaker on Wednesday as focus shifts to the SA Reserve Bank’s latest decision on interest rates, with analysts somewhat divided on the outcome.

Despite ending the day weaker, the local currency is still ahead this week, with risk appetite boosted by a possible Covid-19 vaccine and EU stimulus package.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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