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SA supply chains, tourism taking a hit from coronavirus outbreak - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The Reserve Bank says the impact of the coronavirus is already starting to affect supply chains, global logistics and tourism via SABCNewsOnline

The Reserve Bank says the impact of theThe Central Bank says the financial market reactions reflect the uncertainty the world is facing. It says that based on this assessment it would take appropriate steps in accordance with its constitutional mandate to mitigate the risks to the South African economy.

“Investors are trying put a bottom in here,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. The dollar rallied after huge losses against the safe-haven Japanese yen and Swiss franc, but analysts said it was too early to predict a floor. The greenback plunged on Monday after the Saudi-Russia price war triggered the biggest daily rout in oil prices since the 1991 Gulf War.

Russian oil minister Alexander Novak said he did not rule out joint measures with the Organization of the Petroleum Exporting Countries to stabilize the market.

 

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