The South Africa Reserve Bank’s Monetary Policy Committee is expected to deliver its decision regarding the interest rate cut on November 21,2024.
Trump’s win yesterday has sent shock waves on the economies of emerging markets like South Africa and the rand took a major blow. Picture: Independent NewspapersThe global markets are reacting to the fact that Donald Trump has been elected as the 47th President of the United States but how will this impact the possible interest rate coming later this month?from the Reserve Bank.
Before Trump’s victory the overall sentiment was that strong the likelihood of a 25 basis points cut would happen. He explained that Trump’s win has strengthened the dollar and this placed some pressure on emerging market currencies and interest rates. The win by Trump may have some positive effects on SA’s economy, according to Aluma Capital economist, Frederick Mitchell.but also some less favourable implications for our domestic economy," Mitchell noted.
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