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The rand rallied about 1% on Friday after the South African Reserve Bank held rates but adopted a hawkish tone, pushing back expectations of rate cuts. Analysts saw limited further gains before the November mid-term budget due to public finance concerns.
Higher-for-longer local rates strengthen the rand, which slightly lowers import costs for South African feed buyers but does not move global grain or meal prices.
reuters.comSep 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.
