Browsing: Investment

The rand plumbed a record low after the country lost its last investment-grade credit rating, and investors anticipated it may slide deeper into junk as the spread of the coronavirus decimates the economy.

Moody’s cut South Africa’s credit rating below investment grade, delivering the country a full house of junk assessments as it grapples with a nationwide lockdown.

The South African Reserve Bank cut its benchmark interest rate by the biggest margin in more than 10 years as it seeks to support an already fragile economy that’s expected be hit hard by the novel coronavirus.