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The rand slumped after the South African Reserve Bank held its policy rate at 7% against widespread expectations of a 25-basis-point hike. The currency fell as much as 2.5% and was the world's worst performer that day, while the 10-year bond yield rose 16 basis points to 8.96%.
The unexpected hold raised dollar-based import costs in South Africa and reflected policy doubts that can weigh on emerging-market currencies. Effects on global feed commodity prices are limited.
moneyweb.co.zaNtando Thukwana, Ray Ndlovu, BloombergJul 24, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
