# MARKET WRAP: Rand firms as CPI data points to Reserve Bank hike

> Rand firmed as October CPI inflation data pointed toward a possible Reserve Bank interest rate hike. JSE shares gained ahead of the Monetary Policy Committee's announcement on Thursday.

- Date: 2022-11-23 · published 2022-11-23T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/38976-market-wrap-rand-firms-as-cpi-data-points-to-reserve-bank-hike
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Expectations of higher South African rates tend to support the rand, which lowers the local cost of dollar-priced feed imports.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businessday.co.za: https://www.businessday.co.za/bd/markets/2022-11-23-market-wrap-rand-firms-as-cpi-data-points-to-reserve-bank-hike/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.