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The South African Reserve Bank raised its benchmark rate by 25 basis points for a third straight meeting and signaled faster tightening through 2024. The move partly counters inflation pressures from Russia's war with Ukraine.
The rand rose 1.6% to 14.5301 per dollar, its strongest level in five months.
Tighter South African monetary policy supports the rand and raises domestic borrowing costs, which can slow local feed and livestock demand. The effect on world feed prices is limited.
moneyweb.co.zaPrinesha Naidoo, BloombergMar 25, 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.
