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Commerzbank says the rand is likely to struggle as the South African Reserve Bank raised its key rate by 50 basis points to 4.75%. The vote was not unanimous, and the bank expects the rand to trend weaker over the medium term.
Expected rand weakness raises the local-currency cost of dollar-priced feed and fertilizer imports. The effect is modest and mainly affects South African buyers.
octaafrica.netMay 20, 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.
