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The South African Reserve Bank has tightened policy five times in a row, with the largest rate hikes in about two decades. Despite the hawkish stance, the rand is still heading for one of its worst monthly declines in July against the dollar.
Higher local rates support the rand, but persistent currency weakness raises the rand cost of imported feed ingredients and freight-linked inputs for South African buyers.
bloomberg.comColleen Goko-PetzerJul 22, 2022Not 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.
