The rand has further room to strengthen if government pushes ahead with reforms: Reserve Bank’s Lesetja Kganyago.
Browsing: Lesetja Kganyago
The South African Reserve Bank cut its main interest rate for the first time in more than four years on Thursday.
The rand strengthened to a 13-month high on Friday, supported by improved investor sentiment.
Every government should adopt evidence-based policies – and no good case has been built for the assumptions in the IRP 2023.
The rand weakened in early trade on Thursday, nearing the R19.50/$ mark – close to a record low.
Unplanned outages at Eskom’s generating fleet fell to less than 16GW in the past two months, President Cyril Ramaphosa said.
The Reserve Bank decided to halt interest rate hikes on Thursday for the first time since November 2021.
Inflation has fallen below the Reserve Bank’s target ceiling for the first time in 14 months.
The crisis may have reduced the nation’s economic growth rate by as much as 3.2 percentage points last year.
The Reserve Bank will keep monetary policy tight for longer to tame persistent inflation, governor Lesetja Kganyago said.