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The rand weakened ahead of South African inflation data and the SARB rate decision, with consensus expecting a hold at repo rate 8.25%. October CPI rose to 5.9% year on year from 5.4% in September.
Expectations of a rate hold and a firmer rand reduce pressure on South African import costs for feed, with little direct effect on global grain prices.
ig.comShaun MurisonNov 22, 2023Not 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.
