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A Reuters poll expects the South African Reserve Bank to hold its repo rate unchanged this year. The poll then expects the bank to begin cutting in early 2024, by 25 basis points each quarter, as inflation moves closer to target.
Expected future rate cuts are typically negative for the rand, which would raise dollar-priced import costs over time. The forecast is for 2024, so the near-term market impact is small.
reuters.comVuyani NdabaAug 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.
