11 days ago
South African
All eyes on the Reserve Bank this week as the South African rand takes a dive and the British Pound also retreats from the US Dollar. Market pricing indicates a 70% chance of a 50 basis point rate increase at the Bank of England’s February meeting. By contrast, Europe’s single currency has been buoyed by comments from European Central Bank officials pointing to further aggressive policy tightening. The South African RandReuters: The South African rand slipped on Monday as the U.S. dollar edged up on global markets, with investor attention this week pinned on the South African Reserve Bank’s first interest rate decision of the year. The government’s benchmark 2030 bond was little changed on Monday, with the yield down 1 basis point at 9.78%.
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