Global uncertainty has increased significantly in recent months after Russia’s invasion of Ukraine, higher inflation and rate hikes rocked global markets – but the rand has remained remarkably resilient, says Nedbank.
Global uncertainty has increased significantly in recent months after Russia’s invasion of Ukraine – higher inflation and rate hikes rocked global markets, but the rand has remained remarkably resilient, says Nedbank.
“The rand gained even further ground after the US Fed raised interest rates on 16 March, signalling a relatively steep rate-hiking path for the next three years,” it said. “Apart from exposure to commodities, South Africa offered deep financial markets, cheap valuations, sound monetary policy, and at least somewhat improved fiscal metrics when compared with other large emerging market economies such as Russia, Turkey, and even Brazil and other Latin American countries.”
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