# The big issue hitting the rand and interest rates in South Africa – and it’s not the elections – BusinessTech

> The rand's direction depends heavily on US Federal Reserve policy, with domestic factors such as election polls playing a smaller role. Strategist Izak Odendaal said delays in US rate cuts mean South African local rates are also likely to stay higher for longer.

- Date: 2024-04-16 · published 2024-04-16T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/31038-the-big-issue-hitting-the-rand-and-interest-rates-in-south-africa-and-it-s-not
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Higher-for-longer rates keep the dollar supported and the rand under pressure, which raises the local cost of dollar-priced feed and fertiliser imports.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- businesstech.co.za: https://businesstech.co.za/news/finance/768081/the-big-issue-hitting-the-rand-and-interest-rates-in-south-africa-and-its-not-the-elections/

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