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The South African Reserve Bank left its benchmark rate unchanged at 8.25%, its highest level in over 15 years, and warned that inflation will reach the midpoint of its target later than previously expected. USD/ZAR held in a tight range near 18.93 after the decision and the surprise budget surplus.
Rates held at a high level keep the rand supported, but analysts expect cuts later in the year, which could weaken the currency. Feed importers face little immediate change in local-currency costs.
invezz.comCrispus NyagaMar 29, 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.
