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The South African Reserve Bank cut its benchmark rate by 25 basis points to 7.75%, and the decision was unanimous with no discussion of a larger 50 basis point cut. Governor Lesetja Kganyago told reporters the bank is watching price pressures from food and other items.
A cautious easing cycle leaves real rates high, which supports the rand and lowers the local cost of imported feed inputs. Persistent food inflation argues against faster cuts.
reuters.comTannur AndersNov 21, 2024Not 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.
