The South African Reserve Bank’s (SARB) inflation target is currently under review by the National Treasury (NT) as part of a broader macroeconomic policy review for the country. The SARB indicated it would prefer an explicit point target for inflation rather than the current inflation band of 3-6%. Please join us to hear our own view of the inflation target.
The rand is on the back foot after the SARB MPC meeting; any strength is likely to be met with USD buying interest.
Focus today will be firmly on the SARB MPC; markets are likely to be cautious and erratic ahead of this event.
The rand loses ground as US data points to higher interest rates.
South Africa has begun its decarbonisation journey in earnest after having garnered the support of the UK, France, Germany, the US and the EU to jumpstart the just energy transition towards a low-carbon economy and net-zero carbon emissions by 2050. Join us as we weigh up Eskom’s debt solutions, and likely funding needs, as the utility pursues a just energy transition.
The rand traded in positive territory, holding below the 15,3000 level.
The rand ends the week trading around the 15,3000 level; technically, this remains the pivot level for any extension in either direction.
The rand trades on the back foot as broad-based USD buying triggers stop losses and the USD posts gains across the board.
The rand has continued trading towards the recent lows, although the momentum to the downside has stalled around the 15,0000 level, this as the markets await the outcome of the MTBPS.
The rand again posted gains despite challenging local factors; technically, further gains towards the 14,7000 level are possible.
