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The South African Reserve Bank raised the repo rate 25 basis points to 7.25%, below the 50-basis-point hike markets expected. The rand held up despite the dovish-leaning decision, while the MPC warned that load shedding and power cuts are hurting growth and productivity.
Eskom has also proposed another electricity tariff increase.
Rising energy costs feed into South African inflation and input costs for feed producers. The rand's exposure to power-driven growth risks keeps dollar-priced feed imports more expensive.
forex.caadminJan 26, 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.
