South Africa’s petrol price will fall by the most in two years, increasing the chances that inflation may be near a peak.
Browsing: Annabel Bishop
The rand has strengthened to a five-month high on expectations that the central bank will raise interest rates. Portfolio inflows also underpinned its rally.
South Africa’s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three months of the year. GDP shrank an annualised 0,7% in the first quarter