South Africa's rand was set to end the week slightly firmer after inflation fell back within target and the central bank decided to pause interest rate hikes.
At 0725 GMT on Friday, the rand traded at 17.8800 against the dollar , around 0.3% stronger than its previous close. It has gained around 1% against the greenback this week.its interest rate steady at 8.25%, its first pause since November 2021.
That came after figures showed consumer inflation for June eased to 5.4%, back into the central bank's target range of 3%-6%. Central bank governor Lesetja Kganyago said the interest rate pause did not mean an end to the hiking cycle. But Rand Merchant Bank analysts said the market was not pricing in further hikes.South Africa's benchmark 2030 government bond was slightly stronger in early deals, with the yield down 3 basis point to 10.325%.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Koeberg Nuclear Power Station Refurbishment Delayed - South African News Briefs - July 19, 2023
Read more »
South Africa: Putin Not Coming to South Africa For BRICS Summit - PresidencyVladimir Putin, the president of Russia, won't be attending the BRICS (Brazil, Russia, India, China, and South Africa) Summit in Johannesburg in August, the presidency said.
Read more »
South Africa: Outlaws exploit water woes for profit - The Africa Report.comGrowing population numbers, […] poor skills within the water sector and mismanagement of water infrastructure are creating a great thirst in SouthAfrica, says kirsty_carden, director of the Future Water Research Institute. watercrisis
Read more »
South Africa’s visa regime leaves essential jobs unfilled - The Africa Report.com78% of businesses rate SouthAfrica’s VISA regime as ‘very poor’, says finance minister Mireille Wenger. immigration
Read more »
Africa: One Woman's Roar Against Sexual Violence in African Schools #WD2023One Woman's Roar Against Sexual Violence in African Schools WD2023 allafrica: Africa WomenDeliver WD2023 WomenDeliver2023 WomenDeliver GirlsDeliver BreakingBarriers EqualityForAll
Read more »