South African rand strengthens before central bank's rate decision amid rising inflation.
South African rand edges up ahead of central bank's rate decision. The rand traded 0.14% stronger than its previous close at 18.975 against the dollar. Investors are looking forward to the South African Reserve Bank's rate announcement on Wednesday, as inflation reached 5.6% in February, nearing the top-end of the central bank's preferred range of 3% to 6%. The focus will be on maintaining current rates and future rate cut projections, influenced by changes in Fed expectations and domestic inflation forecasts.
March 25, 2024
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