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The South African Reserve Bank cut its benchmark interest rate by 25 basis points, its first cut in over four years, after the US Federal Reserve's larger cut. Inflation had fallen to 4.4% in August, the lowest since April 2021, and the rand held early gains at about 17.48 per dollar.
A new easing cycle in South Africa narrows the rate gap with the US, which can weaken the rand and raise the local-currency cost of dollar-priced feed imports over time.
reuters.comTannur AndersSep 19, 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.
