Things are turning positive for a rate cut coming sooner rather than later – but the rand is suffering as a consequence.
The rand’s strengthening momentum has been broken by a more optimistic South African Reserve Bank. Markets now expect a cut in interest rates at the central bank’s next Monetary Policy Committee meeting.
This broadly reflects South Africa’s forward rate agreement , which is now factoring in almost an 80% chance of a 25bp interest rate cut at the September MPC meeting and just above a 40% chance of another at the November MPC meeting. Bishop previously noted that a delay in interest rate cuts in South Africa, and a quickening in the start of the US interest rate cutting cycle would, which would add to rand strength.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Cold Fronts Bring Wind, Rain and Snow to South Africa - South African News BriefsWarnings as Cold Fronts Batter South Africa
Read more »
South Africa: Keyshia Cole To Tour South Africa This SummerSeasoned concert organizers Glen21 Entertainment today confirmed that the iconic R&B songstress Keyshia Cole will be touring South Africa later this year.
Read more »
South Africa: Cyril Ramaphosa's Speech to Parliament Listed South Africa's Old ProblemsAnalysis - South African President Cyril Ramaphosa's opening of parliament speech successfully captured the spirit of a diverse and cohesive multi-party government ready to get down to work. But it failed to tell South Africans how the new dispensation will do things differently, and better.
Read more »
South Africa: Expectations Versus Reality - the Use of Generative Ai in South Africa's 2024 ElectionAnalysis - By now you've heard that 2024 is the ultimate election year. With over 60 countries around the world heading to the polls, concerns about generative artificial intelligence (AI) and its effects on electoral integrity have received plenty of media coverage.
Read more »
South Africa: Higher Education Faces Many Challenges in South Africa - 3 Priorities for the New MinisterAnalysis - When South African president Cyril Ramaphosa named Nobuhle Nkabane as the minister of higher education on 3 July 2024, many people I know in the sector had to Google her name. Dr Nkabane had been deputy minister of mineral resources and energy since August 2021.
Read more »
South Africa: Chinese E-Commerce Companies Popular in South AfricaRotondwa Mbadaliga is a self-professed 'shopping addict.' The 25-year-old South African fashion influencer says she is a huge fan of Chinese-linked e-commerce companies Shein and Temu because she can get the latest trends at the cheapest prices delivered straight to her door.
Read more »