# Turn for interest rates in South Africa hits the rand – BusinessTech

> The South African Reserve Bank held its repo rate at 8.25% for a seventh straight meeting, but two members voted for a 25 basis point cut. Markets now price a high likelihood of a September cut, with another possible in November.

- Date: 2024-07-22 · published 2024-07-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/29578-turn-for-interest-rates-in-south-africa-hits-the-rand-businesstech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Expected rate cuts narrow the interest-rate gap with the US and tend to weaken the rand, which raises the local cost of imported feed ingredients.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- businesstech.co.za: https://businesstech.co.za/news/finance/783663/turn-for-interest-rates-in-south-africa-hits-the-rand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.